Why will Codelco close its innovation branch?

Functionality

Next month, the copper miner of the state of Chile, Codelco, will close its arm of innovation Codelco Tech.

Three years after its creation, the miner will lay off part of the Codelco Tech workforce and introduce changes to the innovation projects underway.

The miner told BNamericas that from April, all innovation efforts will be internalized, which will position the company closer to the global ecosystem of the business. ;innovation.

Codelco will develop selective innovations to find currently inaccessible mineral resources, protect worker safety and solve sustainability issues related to water consumption, better capture of greenhouse gas emissions and better management of waste.

We need all of our innovation efforts to be part of the heart of the business without middlemen, as this will allow us to make our operations competitive and allow us to move towards mining of the future, said Codelco.

Innovation is always part of Codelcos' business strategy. But the company is not trying to generate knowledge; he wants to capture it and adapt it to the challenges posed by each operation.

The projects implemented will remain in place. Supported by the local and foreign innovation ecosystem, they will be managed internally.

Asked about the investment in Codelco Tech, the miner refused to provide figures.

Photo credit: Codelco Tech

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