MILLING ABOUT: Codelco appoints Nelson Pizarro as new ceo

World’s largest copper producer Codelco has appointed Nelson Pizarro as its new ceo, in a unanimous decision from the board announced by the company on Thursday July 31.

The world’s largest copper producer Codelco has appointed Nelson Pizarro as its ceo.

With over 50 years of experience in the mining industry, Pizarro’s challenge will lie in leading Codelco when it needs to reduce costs and execute the greatest investment plan of its history.

“Nelson Pizarro has the needed experience to take over the tasks that lie ahead and for that reason the directors decided unanimously for his appointment,” board chairman Óscar Landerretche said in a filling to Chile’s stock market regulator, SVS.

The executive will take office on September 1. He replaces Octavio Araneda, who had been interim ceo since June 13 when Thomas Keller was removed from the position.

Since 2006 Pizarro had been ceo of Compañía Minera Lumina Copper Chile, leading Caserones project that was officially inaugurated this week.
This is not his first stint with Codelco. He was general manager of Andina and Chuquicamata divisions and vp of Codelco Norte.

The process of looking for a new ceo to Codelco was “not easy”, according to Landerretche.

“We had very good candidates and we understand as board that the company is facing big challenges in security, production, costs reduction and investments,” he added.

Before his nomination, Pizarro was seen as a strong candidate by various industry sources in Chile.

Danielle Assalve
Twitter: @dassalve_MB

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