SANTIAGO, March 28 (Reuters) - Chile's Codelco

, the world's largest copper producer, on Friday

reported a swing into the black for its 2024 earnings, posting a

pre-tax profit of $790 million compared to a loss of $757

million the previous year.

The state-owned miner said output totaled 1.328 million

metric tons, a touch above the 1.325 million tons it reported

for 2023 and landing within its target range.

Codelco said it began in August to post higher

production figures than in the year before.

"In 2024 we succeeded in leaving the production valley,"

it said in a presentation.

Codelco has previously said it aims to increase 2025

output to some 1.391 million tons, which it estimates could help

it nearly quadruple its pre-tax net profit to $3.105 billion.