The new Chilean government is considering restructuring Codelco to make it more responsive to the markets.
A proposal calls for the transformation of Codelco into a holding company and the creation of separate companies for Codelco’s four production units: Chuquicamata, El Salvador, Andina and El Teniente. The state would retain 100% control of the new companies.
In addition, it is proposed that the reserve law giving the Chilean military the right to 10% of Codelco’s turnover be abolished.
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