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Codelco facts for kids

Kids Encyclopedia Facts
CODELCO
Government-owned
Industry Mining
Founded (1955)
Headquarters Santiago, Chile
Products Copper
Revenue Increase US$ 16.0 billion (2010)
Number of employees
17,880

Codelco-Chile (Spanish: CorporaciĆ³n Nacional del Cobre de Chile - CODELCO) is a state mining company in Chile that uses and exploits copper.

History

It was founded in 1955 like the Copper Office. In 1966, under President Eduardo Frei Montalva, the Copper Office changes the name to Copper Corporation of Chile (Codelco). It was nationalized on July 11, 1971 under Salvador Allende. In 1976 was created the CorporaciĆ³n Nacional del Cobre de Chile under the Augusto Pinochet administration.

Features

Considering the size of installations and volume of production, it is considered one of the largest mining companies in the world.

Related pages

  • Chilean Nationalization of Copper


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