Chile's Codelco Restarts El Teniente Mine After Fatal Collapse That Killed Six, Appoints Sougarret and Cutifani, Faces US$300 Million Losses

Chile's state-owned copper mining company Codelco has resumed partial operations at its El Teniente mine nine days after a fatal collapse that resulted in the deaths of six workers. The labor inspectorate authorized the restart of operations in unaffected sectors, allowing approximately 2,480 workers to return to their duties. The company has emphasized that worker safety remains a priority and has reinforced security measures following the accident. In response to the incident, Codelco replaced the general manager of El Teniente with Claudio Sougarret. Additionally, the company appointed Mark Cutifani, former CEO of Anglo American and an experienced Australian mining engineer, to lead an independent international audit of the accident. Codelco estimates that the fatal accident has caused financial losses of up to US$300 million. The reopening has also faced challenges, including a worker injury during maintenance and a blockade at the Annex pit entrance affecting personnel access. The Ministry of Mining has expressed support for the resumption of operations, underscoring the importance of safety. The tragedy has sparked discussions about contractor treatment and highlighted a similar event that occurred in 2023. Meanwhile, Codelco is engaging with contractors to stabilize operations amid ongoing concerns.