Vedanta to exclude base metals business from sweeping demerger
The group said it will consider the base metals business demerger at a later stage.
Chile’s state-run copper giant Codelco announced the departure of temporary vice president Jose Sanhueza on Tuesday, the company said in a statement.
Codelco said that Sanhueza’s departure concluded a leadership shakeup announced by CEO Ruben Alvarado in October that aimed to consolidate and streamline leadership and departments in the company.
Prior to his temporary appointment, Sanhueza was the vice president of foundry and refinery, a department that was since absorbed by the vice presidency of operations.
The company said the main goal of Sanhueza’s new position was to accompany the organizational transition mandated by Alvarado.
Codelco has faced a historic drop in production and is facing ballooning debt caused by projects aimed at boosting output. A Reuters investigation found that these projects have faced significant delays and problems that workers blame on poor management and planning.
(By Natalia Ramos and Alexander Villegas; Editing by Sarah Morland)
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