Codelco to Receive $600 Million in Funding From Chilean Government

Bloomberg reported that Codelco is set to receive $600 million from the Chilean government to help the company fund a five-year spending plan.
As quoted in the publication:

The capital injection is the first payment in the $3 billion authorized under a new funding mechanism set up for state-owned Codelco, the Finance Ministry said in an e-mailed statement Wednesday.
The money, which will come from government bond sales, was released after Chief Executive Officer Nelson Pizarro presented authorities with an investment plan this week that reduced to $21 billion or $22 billion an original proposal of $25 billion.
The investment plan is designed to avoid a slump in output as existing deposits run out of profitable ore. The six projects listed in the plan include an underground operation at Chuquicamata that would come into operation in 2019, one year before the century-old open-pit closes. It also includes plans to expand the El Teniente and Andina mines.

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