Codelco board chairman resigns shortly before his term ends

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.

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“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.

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