Octavio Araneda-Executive President Coldeco

Santiago– A new stage in the history of Codelco is set in motion with the start of the administration led by the civil engineer of Minas Octavio Araneda Osés, whose management poses the challenge of repositioning Codelco between the most competitive, sustainable and profitable copper producers in the world.

To achieve this objective, the state-owned company will focus on the competitive advantages represented by its large resources and mineral reserves, bringing its assets to technical limits through the operational excellence of its current deposits and excellence in the execution of the six structural projects under construction , initiatives that represent the possibility of sustaining its current levels of production, supporting the financing of its portfolio and maintaining its contribution to the State, for another five decades.

In a simple ceremony held today at Casa Matriz, the president of the board, Juan Benavides, outlined the challenges that await Araneda. “Receiving Codelco today is a great challenge, a great challenge. The demands ahead of this position in terms of projects, changes, transformation, are in high demand and require, not only great performance and a great job of the executive president, but also of the collaboration of his entire team, “he said.

The new executive president, meanwhile, addressed the entire Corporation with a 13-minute speech, in which he addressed the medium-term goals. “By 2022 we have to transform Codelco into a company in the second quartile of costs for the industry. It is a super challenging, difficult goal, but what we have done in recent years shows that we can, that we are capable, that we have the skills and that we know how to do it. “

Araneda focused on the physical transformation of the Corporation, which must be accompanied by a profound change in the way the company is managed. Among the examples of what should be done was the application of the Lean methodology for operational excellence, in addition to the systematization and standardization of processes. He also recalled that a change in the mentality, behaviors and competencies of the people who form Codelco is required.

The executive invited people “to join with energy, with enthusiasm, with passion in this great crusade that we have the next few years of definitely transforming Codelco into one of the most profitable and sustainable companies in the mining industry, and in that way contribute to the purpose of the Corporation. Because this is the big difference between this company and the rest of the industry: our purpose is to contribute to the development of the country, to improve the living conditions of the most dispossessed Chileans. ” He went on to say that the great crusade of the coming years will be to turn the state into one of the most profitable and sustainable companies in the mining industry. “Our purpose is to contribute to the development of the country, to improve the living conditions of the most deprived Chileans.” 

But who is Octavio Araneda Osés…..

 A Mining Engineer from the University of Chile , with an outstanding professional career of more than 30 years and Octavio developed his entire career, except for a brief period in 1986, in Codelco. He began his work at the company as a memorist, and then held positions as Systems Analyst, Geomechanical Engineer, Superintendent of Mine Operations and Manager of Mining Resources and Development.

In 2010 he became the general manager of the El Teniente Division and since then he has been in the front line of the administration of the company: he has served as Vice President of Operations in both the Northern District and the South Central District, and had He is the Executive Chairman of the Corporation for a few months in 2014. In addition, he is the first CEO of Codelco who has made his entire career at the Corporation.

Best student of his generation at the University of Chile, Octavio Araneda was perfected with postgraduate degrees at the same university and then, in 2003 at Curtin University in Australia, an establishment where he completed a Master of Science in Mineral Economics.

Other changes in the state

As part of this new cycle, a series of movements in the company’s senior management are also effective. Mauricio Barraza, general manager of Chuquicamata until August 31, 2019, assumes as vice president of Operations South Center in replacement of Octavio Araneda.

Nicolás Rivera, until August general manager of El Teniente, leads the Chuquicamata Division. In his replacement he assumes the head of El Teniente, Andrés Music, who served as general manager of Minister Hales, a division that Rodrigo Barrera arrives at, who until now led the Chuquicamata Underground project.

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