Codelco reports $1.966B H1 profit amid 11% production decline

Chilean state-owned copper producer Codelco reported a $1.966 billion pre-tax profit for the first half of 2026, despite an 11% year-over-year decline in production to 564,000 tons. The production shortfall highlights ongoing operational challenges in maintaining output levels at aging mines, though profitability remains supported by copper market pricing.