Chilean copper producer Antofagasta has announced the appointment of Iván Arriagada, a former executive of the state-owned Codelco, as CEO of its mining division.

Arriagada, a 51-year-old former commercial engineer with experience at BHP Billiton, begins in Q1 2015; he takes the helm from Diego Hernandez, another previous executive at Codelco, the world’s top copper miner.

Antofagasta, owned by Chile’s influential Luksic family, profits primarily from mining but also has transport and water units; the London-listed firm, like most copper miners, faces rising costs and weak demand.

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