Chile's Codelco Restarts El Teniente Mine After Fatal Accident That Killed Six Miners; Manager Replaced, Financial Impact Looms

Chile's state-owned copper producer Codelco has received regulatory approval to partially resume underground operations at its El Teniente mine following a fatal accident that resulted in the deaths of six miners. The approvals came from Chile's mining authority Sernageomin and the labor inspectorate, allowing work to recommence in sectors of the mine unaffected by the incident. Approximately 2,480 workers have returned to the site as operations restart nearly nine days after the tragedy. The company has emphasized that worker safety remains a priority and has reportedly reinforced safety measures. Despite the operational restart, the accident has negatively impacted Codelco's financial position and debt outlook. In response to the incident, Codelco announced the departure of Andrés Music, the general manager of the El Teniente division, who has been replaced by Claudio Sougarret. The mining ministry has expressed support for the resumption of activities, underscoring the importance of safety in ongoing operations.