Cobreloa got to the 1982 Libertadores Cup by winning the qualifying mini-league. That year, Calama Municipal Stadium was not only objected for the finals, but also for the semifinals, thanks to the directors of the ACF (Asociacion Central de Futbol) of Chile, who approved the measure.

Despite of that, Cobreloa againt reached the final, but the road was a bit more complicated than the previous year. In the first round, Cobreloa again got nine points from three ties as visitors and three victories at home. The victims were Colocolo and the Ecuatorians Barcelona and Liga Deportiva Universitaria.

In the semifinals, the rivals were Tolima (Colombia) and Olimpia (Paraguay). Cobreloa defeated both teams in Santiago, and abroad it tied with Olimpia and Lost against Tolima. Only the last game gave Cobreloa tickets to the final. It was the 1 - 0 over Olimpia in Santiago.

Cobreloa was again in the final and he rival was Penarol. It seemed that Cobreloa was going to be the champion, since a tie with Penarol in Uruguay left the team with the best options. However, in Santiago, when there was almost no time left and everybody thought there would be a third game, Fernando Morena scored for Penarol with a left kick that muted everyone in Chile.