Codelco's El Teniente Smelter Resumes Amid Copper Shortage

Codelco's smelter at the El Teniente mine is restarting after a deadly collapse paused operations for two weeks, causing a significant copper loss. The shutdown led to a shortfall of up to 30,000 metric tons of copper, valued at approximately $300 million, pending further investigation.

Chilean miner Codelco announced the resumption of operations at its El Teniente smelter, following a two-week halt due to a tragic site collapse.

The incident in late July resulted in six fatalities and an ongoing investigation. The temporary closure led to a significant copper loss, accentuating global supply concerns.

Chairman Maximo Pacheco reported a shortfall of 20,000 to 30,000 metric tons of copper, with an estimated market value of $300 million.