Chile Busts $917 Million Copper Theft Ring Shipping to China

Chilean authorities have uncovered a sprawling copper theft network, dismantling a criminal operation that moved an estimated $917 million worth of the metal between 2020 and 2025, with shipments traced to China via the northern port of Iquique.

The scale of the illicit trade, exposed in a series of raids under ‘Operation High Voltage,’ highlights the vulnerability of Chile, the world’s largest copper producer, to organized crime fueled by record-high metal prices in January 2026. Police arrested 25 individuals, including alleged leaders, after searching 49 properties across seven regions. They seized 187 tons of copper, valued at roughly $2.2 million at current market rates.

Thieves employ brutal tactics, using heavy trucks to topple power poles and strip cables in minutes, often leaving communities without electricity. Losses from a single incident can reach 60 million pesos, according to Rodrigo González, a prosecutor in the border town of Arica. Criminals process the stolen copper locally, burning off plastic coatings or melting it into untraceable ingots, sometimes blending it with higher-grade material from mining operations.

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The trade’s sophistication is evident in its structure, with distinct roles for theft crews, intermediaries, and cross-border transporters. Authorities note that proximity to Peru and other borders facilitates smuggling, with overland routes proving hard to monitor. In one northern region alone, officials have seized more than 10 tons of stolen copper this year, estimating 30 to 50 tons could be moving through annually.

Under the new administration of President José Antonio Kast, who has prioritized crime reduction, Chile is ramping up its response with centralized investigations, data-driven heat maps, and drone surveillance to track hotspots. Yet, González warns the challenge persists as dismantled groups are quickly replaced, with the lure of high copper prices driving a relentless cycle of theft.

The latest seizures underscore the ongoing financial toll, with the $2.2 million haul representing just a fraction of the broader losses to infrastructure and mining operations in 2026.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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