Chile's Codelco CEO Sougarret to leave role in August

Chile's state-owned Codelco, the world's largest copper producer, announced on Tuesday the resignation of its Chief Executive Officer Andre Sougarret.

Sougarret will remain in his post until August 31, according to a company statement. Complexities in managing a state mining company in "current times and circumstances" are among the reasons for Sougarret's resignation cited in the statement.

Codelco is currently leading a transformation of Chile's mining sector as part of a government push to seek tighter state control over lithium projects.