Chilean miner Codelco sets 3.9 billion dollar investment target for 2026
Chilean state miner Codelco authorized 3.9 billion dollars for its 2026 budget. The firm expects to increase production to over 1.34 million metric tons.
The Chilean government 
CL has officially approved the 2026 budget for Codelco through a government decree, authorizing a total of $3.914 billion in investments for the year. This investment level, which is reported as $3.289 billion plus value-added tax, represents a decrease from the $4.7 billion and $4.6 billion spent by the state miner in 2025 and 2024, respectively. This reduction in capital allocation is expected to affect the company's capacity to pursue production growth and meet its financial forecasts.
CL has officially approved the 2026 budget for Codelco through a government decree, authorizing a total of $3.914 billion in investments for the year. This investment level, which is reported as $3.289 billion plus value-added tax, represents a decrease from the $4.7 billion and $4.6 billion spent by the state miner in 2025 and 2024, respectively. This reduction in capital allocation is expected to affect the company's capacity to pursue production growth and meet its financial forecasts.In addition to the investment figures, the company published its official 2026 forecasts today, February 9, 2026. Codelco expects to achieve a pre-tax profit of US$3.228 billion, supported by an anticipated copper price of $4.90/lb. However, the state-owned enterprise also projected a $2,202/lb direct production cost and a total production volume of 1,344,002 metric tons for the fiscal year.
