Codelco Ups Copper Output Four Percent

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.

Click here to read the full Reuters article.