Codelco Vows Not to Cut Output at Core Copper Projects

Metal Bulletin reported that Chile’s Codelco has said that it will not cut copper output at its key projects no matter what happens in the copper market.
As quoted in the market news:

Copper producers are battling weak prices and slowing consumption growth in China, leading to worldwide efforts to reduce output, improve productivity and cut costs. Codelco still has “marginal places” that could be affected by a downturn, but they represent a very small proportion of the company’s production.

Speaking to the news outlet, Chairman Oscar Landerretche said:

All the announcements the ceo of Codelco has made about downsizing and optimising these projects, to be very frank, have absolutely nothing to do with copper prices. They have to do with getting the mining and the engineering right. That’s what it’s about. If we had to cut on something aggressively for a short-term reason, we would not cut on Codelco’s future.

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