financetom
Business
financetom
/
Business
/
Chile copper miner Codelco says output 'recovering'
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Chile copper miner Codelco says output 'recovering'
Apr 4, 2024 12:58 PM

SANTIAGO, April 4 (Reuters) - Chilean state miner

Codelco, the world's biggest copper miner, said in a

statement on Thursday that its production for the first three

months of 2024 landed near 300,000 metric tons.

"We are recovering and will continue to do so," Codelco

chair Maximo Pacheco told lawmakers from a committee visiting

its major Teniente mining complex.

"All of our workers are working hard to meet our

production goal and reverse the situation we've experienced of

falling production and key project delays."

Pacheco said lower production over the last few years

could be explained by lower ore grades, a pit wall collapse and

disruptions in project ramp ups as well as weather and seismic

events in the South American country, which sits atop a tectonic

belt of earthquakes and volcanoes.

Delays in projects getting approved also forced several

large projects to begin at the same time, he added.

Committee leader Senator Juan Luis Castro said decisions

must be made more quickly and that Codelco's top leaders would

be called on again this month to give more information and to

discuss what lawmakers can do regarding the miner's future,

according to Codelco.

Codelco, which has also been

tasked with negotiating public-private partnerships

with lithium miners as Chile looks to boost state control

over the key battery metal industry, last year hit its

lowest output level

in a quarter of a century.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Safran in talks with MBDA over Roxel's stake, La Tribune reports
Safran in talks with MBDA over Roxel's stake, La Tribune reports
Sep 9, 2024
(Reuters) - French jet engine maker Safran and European missile maker MBDA are in talks over the potential sale of tactical propulsion systems business Roxel, French weekly La Tribune reported on Monday. Both companies own 50% of Roxel, and the proposed deal would have MBDA buying the remaining shares from Safran, the newspaper said, noting the talks have been going...
ING Comments on Euro, Poland's Zloty, Hungary's Forint, Czech Republic's Koruna
ING Comments on Euro, Poland's Zloty, Hungary's Forint, Czech Republic's Koruna
Sep 9, 2024
06:28 AM EDT, 09/09/2024 (MT Newswires) -- EUR/USD failed to hold intra-day gains on Friday as investors again struggled to take a clear view on whether the United States Federal Reserve will cut by 25bps or 50bps, said ING. This week, the focus will be Thursday's European Central Bank meeting. Here, a 25bps cut looks like a done deal, while...
China Denounces Netherlands' Export Curbs on ASML Holding
China Denounces Netherlands' Export Curbs on ASML Holding
Sep 9, 2024
06:35 AM EDT, 09/09/2024 (MT Newswires) -- China's commerce ministry on Sunday denounced the Dutch government's export restrictions on ASML Holding's ( ASML ) chipmaking equipment, saying they were dissatisfied with the decision. The Chinese ministry said that it opposes the US practice of coercing other countries to tighten export rules on semiconductors and related equipment. Last Friday, the Netherlands...
Tesla's Elon Musk Denies Co. Will Pay xAI for Technology License
Tesla's Elon Musk Denies Co. Will Pay xAI for Technology License
Sep 9, 2024
06:40 AM EDT, 09/09/2024 (MT Newswires) -- Tesla (TSLA) chief Elon Musk has denied a report that the electric vehicle manufacturer will pay his artificial intelligence startup xAI for a technology license. The Wall Street Journal reported over the weekend that xAI had discussed a possible deal where it would provide its technology and resources in exchange for future Tesla...
Copyright 2023-2026 - www.financetom.com All Rights Reserved