CommoditiesMedium•5 November 2026•
1 min read
Codelco Dismisses Staff and Orders Audits Over Copper Output Overstatement Claims
Key Facts
1Codelco ordered audits and dismissed nine employees after identifying 42,100 metric tons of potentially inflated production.
2Chair Bernardo Fontaine noted that the inventory issue could be worth between $120 million and $140 million.
Codelco ordered audits and dismissed nine employees after identifying 42,100 metric tons of potentially inflated production. Finimize reported that the company is reviewing figures across three mines and its corporate offices following claims of overstated output and inventory levels.
Chair Bernardo Fontaine noted that the inventory issue could be worth between $120 million and $140 million, according to Reuters. The internal investigation identified reporting issues that may have inflated stock levels by up to 17,000 metric tons.