Chile's Codelco unveiled a US$40 billion investment program through 2026, which will focus on the development of key structural projects and smelter upgrades to meet the country's tougher environmental policies, Metal Bulletin reported Oct. 13.

The company plans to invest US$20 billion until 2021, with another US$20 billion from 2022 to 2026, marking a US$2 billion increase from its previous five-year US$18 billion investment slated from 2016 to 2020.

The Chilean state miner said that investments will be financed from the company's own resources and from the coffers of the Chilean government.