Codelco’s copper output dips in Jan-Sep; profits boosted by higher metal prices

Codelco’s mined copper production edged lower in the first nine months of 2017 due to declining ore grades, but the miner’s profits rose significantly during the period, benefiting from higher prices for the metal.

The Chilean state-owned miner produced 1.24 million tonnes of copper in the January-to-September period, 2.5% less than in the corresponding period of 2016, chief executive officer Nelson Pizarro said on Thursday November 23.
The figure accounts only for production from Codelco’s wholly owned divisions and is in line with the company's target for the period.

“This is a very good result considering that in the last four years the ore...

Published

Danielle Assalve

November 24, 2017

01:50 GMT

São Paulo