Nelson Pizarro announces review of all Codelco’s structural projects
Oscar Landerretche, Chairman of the Board said that from this review will be assumed commitments with the State by capitalization.
“The State of Chile made a difficult decision and chose to invest in Codelco’s faith that we will make the paste. We have not received a blank check. We have received a mandate and a tremendous responsibility with each Chilean who looks Codelco and confident that we will meet this mandate “.
With those words, the Codelco’s chief executive, Nelson Pizarro, addressed yesterday to staff headquarters in Santiago-and the divisions via streaming- in what was his first public activity the day he formally took office.
There were also ads. The most powerful, the review of all structural projects incorporated in the investment portfolio of the state company, totaling about $ 23 billion and whose funding is secured partly due to the state’s decision to capitalize on up $ 4,000 million to the company.
“The future depends on the fulfillment of structural projects. My first reaction, because I just come, is that I need to know thoroughly. I need to share the challenges that have arisen there, for which we will make appropriate reviews (…). It will take about two or three months to verify or make sincere the PND (Business Plan and Development) 2014, “said Pizarro.
While acknowledging the contribution of Octavio Araneda as interim CEO of the copper company, chairman of the corporation, Oscar Landerretche said that this is a normal process and it will emanate the commitments that will Assume Codelco with the State for the capitalization of profits.
He also admitted that this review can affect the sequence of project implementation as well as designing them.
“It is the prerogative of all mining expert taking the time to do a review of the projects, moreover, it is nothing new: the projects are revised every year and are adjusted.
In particular, the capitalization bet the government did, will be reviewed to give effect to the commitments assumed by Codelco and in that sense the CEO has asked a few months to do a full review so that the commitments we make to the government to be firm, “admitted Landerretche.
Last week, President Michelle Bachelet signed the bill that authorized capitalization of up to $ 4,000 million during the period 2014-2018 for Codelco, which clears the question and risks on the financing of the structural portfolio.
Other changes announced by Pizarro relate to movements within the corporation, of which have transcended some modifications in certain vicep. The former CEO of Lumina Copper said he would meet with executives to discuss these changes.-
Meet targets
Another priority that listed the executive is to ensure compliance with production plans undertaken, in addition to focusing efforts on productivity and cost at Codelco.
He also expressed in a direct address to the company staff his commitment to the directory and trade unions.
“I have a reputation for ‘Edward scissors hands’, but hopefully not that the attribute that you remember me. I am one hundred percent willing to work with the board, with process owners, representatives of workers, to design solutions that take us to meet a satisfactory present results and a promising future for all who formed this corporation and its shareholders, all Chileans, “he added.-
Source: Pulso
