MB ASIA COPPER CONF: Codelco focus on cost-saving, not production cuts, says ceo

Codelco believes cutting costs rather than reducing production is the most effective way to cope with the collapse in copper prices, its president and ceo said at Metal Bulletin’s 11th Asia Copper Conference on Wednesday November 18.

Cost-saving is critical in the present market, he said. “Production cuts are not all positive due to their high financial and technological costs when it comes to restarting [production] in the future. We believe reducing costs [is a better way] to secure profit,” said Nelson Pizarro. “Copper prices are dropping and we have to analyse on a case-by-case at what stage we must strike a balance between...

Published

Shivani Singh

Kiki Kang

November 18, 2015

07:33 GMT

Shanghai