In 1983, Cobreloa qualified for the third time to the continental tournament. However, the team that reached the final twice did not perform as expected.

The round started in Chile, and the chilean teams were the favorites instead of the argentinians Ferrocarril Oeste and Estudiantes. However, the argentinians won their home games, and being left only one game for each team, the four still had chances to qualify to the second round. Colocolo was the leader with six points, both argentinians had five, and Cobreloa four points.

One of Cobreloa's directors still remembers that year:

"We were almost out, but still had mathematical options. A tie between the argentinians and a victory over Colo Colo would have made us go onto the next round."

However, it was Colo Colo who had the best chances, for if it defeated Cobreloa, they would qualify wihtout depending on the game between the argentinians. "

"I remember that Colocolo's directors came to Calama and asked us to let them win. We told them that they were crazy, that Cobreloa was not that kind of club."

And that was it. A victory of 2 - 0 over Colo Colo eliminated them, and also showed the hidalguia of the team. The one to qualify would be Estudiantes, with a 2 - 1 victory over Ferrocarril.