Codelco retains 100% of profits: the confession of a crisis 💸

Forget the rumor that Codelco is going to pay out million-dollar dividends. The big news is that the Chilean state-owned company decided to retain 100% of its 2025 profits. Why? Because production fell by 11% and they need that cash to survive the structural downturn. This isn’t a 'good result'—it’s an injection of oxygen. If copper isn’t enough to keep the machinery running, where will the liquidity for the state come from? This changes the entire Chilean macro thesis. It’s not optimism—it’s survival. Do you think copper has air for 2026, or are we looking at the beginning of a real decline?

#Codelco #Cobre #EconomiaChile #Mining

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