Codelco board chairman resigns shortly before his term ends

Codelco chairman Juan Benavides. Image courtesy of Fundación TERRAM.

Chile’s state-owned mining giant Codelco said on Thursday the chairman of its board of directors has resigned two months before completing his four-year term.

Juan Benavides held the position at the world’s largest copper producing company since being appointed in May 2018 by outgoing Chilean President Sebastian Pinera.

“Mission accomplished and now some rest,” Benavides said in a statement, adding the resignation was due to personal reasons.

Codelco has been working to reduce costs and increase productivity in order to carry out its so-called structural projects that aim to maintain production in the coming years.

(By Fabian Andres Cambero and Carolina Pulice; Editing by Susan Fenton)

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