Chile’s Codelco, World’s Largest Copper Producer, Reports Return to Profitability

The company said production rose 4 percent year-on-year to 1.165-million tons in the first nine months. The company said its cash cost fell 11.3 percent to US$1,269 per pound between January and September.

RIO DE JANEIRO, BRAZIL - On Friday, October 30th, Chile's state-owned mining company Codelco, the world's largest copper producer, reported an 86 percent increase in its profit for the first nine months of the year, to US$1.124 billion, after an increase in production.

The company, which turns over all its profits to the federal government, said production rose 4 percent year-on-year to 1.165-million tons in the first nine months. The company said its cash cost fell 11.3 percent to US$1,269 per pound between January and September.

Codelco Chief Executive . . .

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