Codelco Sees Slow Recovery After Years of Copper Output Declines

-- Codelco is starting to turn the corner after a production slump and project overruns eroded the state-owned copper behemoth’s finances, according to a top Chilean official.Apple Plans New iPad Pro for May as Production Ramps Up Overseas

After production dropped 8.4% last year, the Santiago-based company is starting a gradual recovery as underground operations at its Chuquicamata mine ramp up. Still, production guidance of between 1.325 million tons and 1.39 million tons for 2024 would only be a very slight increase on last year’s levels, with capital expenditure set to come in at $4 billion to $5 billion.

There are no plans to add new funding mechanisms, given the 30% profit retention has only been in force for two years and Codelco’s prospects are improving, Marcel said.Meme-stock mania comes roaring back to leave Donald Trump's Truth Social owner TMTG worth more than Etsy or Hasbro

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