Chairman Pacheco also said the company would maintain capital spending next year at $4 billion, roughly in line with 2023.

The deal still awaits the crucial Newcrest shareholder vote, scheduled for Oct. 13.

New CEO Jack Lundin said the company is conducting risk analysis before finalizing strategic partners to help develop the Josemaria copper-gold mine.

For BHP to engage in a buyout, it would need to consider price, ease of jurisdiction, and opportunity to add value.

CEO Jonathan Price said the company is advancing a range of proposals with a range of counterparties.

Alejandro Rivera resigned as CFO a day after Codelco’s investment-grade credit rating was cut one notch by Moody’s.

The company has told customers it will keep the surcharge at $228 a ton, ahead of the start of annual supply negotiations next week.

While Chile’s trade with China surpassed $65 billion last year, most of its exports are dominated by copper and much of it is shipped in the form of concentrates