It was founded in 1955 like the "Copper Office". In 1966, under President Eduardo Frei Montalva, the Copper Office changes the name to "Copper Corporation of Chile (Codelco)". It was nationalized on July 11, 1971 under Salvador Allende. In 1976 was created the "Corporación Nacional del Cobre de Chile" under the Augusto Pinochet administration.