Weekly Report - 29 May 2008 (ISSN 1741-7422)

CHILE | Revamping Codelco. A 28-strong, cross-party group of economists and former ministers have come up with a scheme to reform state copper company Codelco and convert it into an anonymous society (SA in the Spanish acronym) or share company to compete more effectively with MNCs such as the Anglo-Australian behemoth BHP Billiton, which is exploiting the Escondida copper deposit. National daily El Mercurio reported on 25 May that the “experts" had highlighted four main problems: an increase in production costs, labour conflicts with subcontracted workers, salaries lower than in the private sector and an administration not independent from “the political cycle". Codelco's president is appointed by the government. The change, they argue, would result in greater transparency and increase efficiency and profitability.

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