1. Codelco: Strategic Sourcing
Fernando Marchant B.
Manager Supply
Sept., 2010 1

2. Codelco Norte Division Codelco Kupferhandel GMHB Representative Office
Codelco: Operations and Global Commercial Presence*
Codelco Norte Division
Copper
New York - US
Codelco Group Inc.
London - UK
Chile Copper
Ltd.
Düsseldorf - Germany
Codelco Kupferhandel GMHB
Ventanas
Smelter & Refinery
Division
Gabriela Mistral
Operation
Copper
Salvador
Division
Copper
Andina
Division
Copper
Shanghai - China
Representative Office
El Teniente
Division
Copper
Santiago
Headquarters
*: Commercial Subsidiaries. 2

3. Codelco: World Leader in the Copper and Molybdenum Industry
Leadership in Copper Production
Leadership in Copper Reserves
Second Largest Molybdenum Producer
Source: Codelco, Companies Annual Reports, WBMS and USGS. 3

4. Our Commitment with the Owner: 1990 – 2009 Profit before Taxes
US$ Million, nominal currency

5. Investments: 1976 - 2010 US$ Million, nominal currency
Note: : Figures include projects, mine development and investments in related companies.
*: Forecast.

6. Evolution of Codelco’s Geological Resources, Mineral Resources and Reserves
Milion fine metric tonnes
Note: Corresponds to Business and Development Plan. Since 2006, geological and mineral resources include stockpile and broken ore.

7. Cooper Production per Division (%)
Copper Production :
Cooper Production per Division (%)
Rajo Abierto
70%
40%
Subterránea
30%
60%
OPEN PIT
UNDERGROUND
Total : 8,600 thousand fmt (approx.)

8. Business Opportunities: 2010 - 2014
US$ Million
Goods
7,600
Services
13,300
TOTAL
20,900 8

9. Conversión Metal Blanco
Business Opportunities: Investment Plan
2052
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Diablo Reg.
Phase III
Phase IV
Pilar Norte
Dacita
RT Fase I
MMH Rajo
MMH
Underground
(2027)
PDA Phase I
Fund. 100%
Metal Blanco
Pacífico Superior
Opt. Mina Planta
Phase V
RT Phase II
Quetena
PDA Phase II
SBL
PDA Phase III
San Antonio
Refinería a 500 ktmf/year
Conversión Metal Blanco
Nuevo Nivel Mina
SS Subte.
Chuqui Underground 9

10. Codelco: Major Projects
Andina Phase I
Andina Division
Inv: MUS$ 1,125
Prod: 60,000 tonnes / year
MMH
MMH Division
Inv.: MUS$ 2,333
Prod: 170,000 tonnes / year
New Mine Level
El Teniente Division
Inv: MUS$ 1,718
Prod: 445,000 tonnes / year
3rd Q
2010
2018
2011
2012
2013
2017
2nd Q
2010
Andina Phase II
Andina Division
Inv: MUS$ 4,390
Prod: 318,000 tonnes / year
Chuqui Underground
Codelco Norte Division
Inv: MU$ 2,006
Prod: 315,000 tonnes/year
RT Sulphides
Codelco Norte Division
Inv: MUS$ 370
Prod: 160,000 tonnes / year
Pilar Norte
El Teniente Division
Inv: MUS$ 140
Prod: 60,000 tonnes / year
Under Commissioning
In Feasibility Study
Note: Figures in US$. Annual production represents first 10-year average.

11. Main Equipment Requirements
EQUIPMENTS
Year of Requirement
2012
2013
2014
2017
After 2017
Total
Crushers 15 3 1 42 61
Feeders 88
103
Conveyor Belts 12
108
122
Mills 10 2 14
Slurry Pumps 9
Substations 26 38
Electric Rooms & Switchgears 5
Power Transformers 8
Screens 16 18
SAG & Mill Ring Motor

12. Investment Summary 2010 – 2014: US$ 15,000 Millions
PROJECTS
QTY.
% MUS$
investment
Structural 4
43%
Investments 57
22%
Study 69
24%
Division
1012
11%

13. Codelco: An Interesting Business Opportunity
Significant business volume
Important foreign and domestic offer
Productivity of service providers
Innovation (technology)
Suppliers development (new stage) 13

14. Codelco: Strategic Sourcing
Fernando Marchant B.
Manager Supply
Sept., 2010 14

15. MMH Explotation Mina Ministro Hales – Feasibility Summary:
The setting of short and long term Codelco Norte Division includes the opening of the pit Mina Ministro Hales (MMH) and the exploitation of its reserves from the first half of The project considers the delivery of minerals to the existing processing facilities in Chuquicamata, in order to maintain the processing capacity of the Division, pending the entry of minerals from underground mining at Chuquicamata. Annual Production: 170 thousand tonnes/year
MMH
Inv.: MUS$ 2,333
Prod: 170,000 tonnes / year

16. Chuqui Underground Chuquicamata Underground Summary: Inv: MU$ 2,006
Chuquicamata site has a mineralization at depth, which means that there are important remaining mineral resources, which are not economic to extract by current operation method. The project is designed to exploit the remaining sulphides under the final pit through the application of underground mining. Annual Production: 315 thousand tonnes/year
Chuqui Underground
Inv: MU$ 2,006
Prod: 315,000 tonnes / year

17. El Teniente New Mine Level
El Teniente, New Mine Level – Feasibility
Summary:
Proceeds from the inevitable depletion of mineral reserves in existing fields in operation, located above the level Sub 6, it is essential to conduct pre-feasibility Mina New Level Project (NNM), which gives business continuity and allows the Division in the medium term to sustain a 137,000 tpd production until about ktf Annual Production: 445 thousand tonnes/year
El Teniente New Mine Level
Inv: MUS$ 1,718
Prod: 445,000 tonnes / year

18. Andina Phase II Andina Phase II – Feasibility Summary: Inv: MUS$ 4,390
The growth phase is a major expansion that will allow a significant increase in current levels of production, reaching around 244 beats Ktpd, generating an operation radically different from today and it possible to leave open the possibility for future growth near the 300 Ktpd. To meet the processing capacity of around 244 Ktpd, it is necessary to construct a surface concentrator which processes about 150,000 tpd. Additional annual production: 318 thousand tonnes/year
Planta SX
Andina Phase II
Inv: MUS$ 4,390
Prod: 318,000 tonnes / year

19. Andina Phase I PDA: Phase I - Execution Summary: Inv: MUS$ 1,125
The project involves the expansion of operations at 22.5 Andina Division ktpd rated based on a complete transformation of the open pit mine and a new crushing-grinding at Chacando Molienda and flotation unit in the subway hub. The implementation of Phase I will allow PDA Andina Division have a background of steady and profitable business in the long term. Annual Production: 60 Annual thousand tonnes/year
Andina Phase I
Inv: MUS$ 1,125
Prod: 60,000 tonnes / year

20. El Teniente Pilar Norte
El Teniente Pilar Norte - Execution
Summary:
The operation of the project sees the start of production in February 2010 with a production horizon of eight years, ending in late The resources of the area reached 41.5 Mton grading 1.31% CuT and 0.032% Mo, committed reserves until 2016 are 34Mton bills and 1.33% CuT leaving as remnants of a 7.6 Mton 1.22% Cut Act. Annual Production: 60 thousand tonnes/year
El Teniente Pilar Norte
Inv: MUS$ 140
Prod: 60,000 tonnes / year

21. RT Sulphides RT Sulphides Summary: Inv: MUS$ 370
Includes the construction of a primary crushing plant mobile semi RT with a processing capacity to 160 thousands tonnes/year, a belt system, a stock pile and others to feed milling and crushing plants secondary-tertiary Chuquicamata
RT Sulphides
Inv: MUS$ 370
Prod: 160,000 tonnes / year