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Codelco Pursues $2 Billion Efficiency Drive Through Mine Consolidation

Chile's state-owned copper producer Codelco is moving forward with plans to unify operations across three mining properties, targeting $2 billion in combined cost reductions and revenue gains. The integration strategy aims to reverse stagnant production levels while managing the company's growing debt burden. The consolidation is expected to streamline redundant operations and improve efficiency across the portfolio. Chile's newly formed government has signaled governance reforms at Codelco to strengthen oversight of strategic decisions at the state-owned mining giant. Successful execution of the consolidation plan could improve Codelco's financial performance and reduce dependency on government support.