Codelco Restarts Partial Operations at El Teniente Mine After Collapse That Killed Six Miners, Names New Manager and Launches $300 Million Audit

Chile's state-owned copper mining company Codelco has received authorization from the labor inspectorate to partially resume operations at its El Teniente mine, nine days after a fatal collapse that resulted in the deaths of six miners. Approximately 2,480 workers have returned to work in unaffected sectors of the mine, with safety measures reportedly reinforced. The Ministry of Mining has expressed support for the restart, emphasizing worker safety as a priority. In response to the accident, Codelco has replaced the general manager of El Teniente, appointing Claudio Sougarret as the new head. Additionally, the company has commissioned an independent international audit of the incident, led by Mark Cutifani, the former CEO of Anglo American and an experienced Australian mining engineer. Codelco estimates the financial impact of the accident could reach up to $300 million. The tragedy has also sparked discussions regarding contractor treatment and highlighted concerns about a similar event that occurred in 2023. Despite the resumption of operations, analysts suggest the financial and reputational effects on Codelco may persist.