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Copper output from Chile’s Codelco rose four percent for the first nine months of 2014 in a year-on-year comparison, according to Reuters.
Copper output from Chile’s Codelco rose four percent for the first nine months of 2014 in a year-on-year comparison, according to Reuters.
As quoted in the press release:
The Chilean state-run miner produced 1.23 million tonnes of copper in January to September, a 4 percent rise from a year ago, it said on Friday.
However, pre-tax profit fell 14 percent to $2.3 bln, which Codelco said was largely due to a slide in the price of copper, down around 14 percent year-to-date.
Codelco is battling falling ore grades at its decades-old flagship mines, and is seeking to implement an ambitious $27 billion multi-year investment plan to open new projects and revamp older ones.