LONDON (Reuters) - Chile’s Codelco, the world’s largest copper producer, is reassessing the cost structure at its mine projects, its chairman said on Friday, given recent overruns.
FILE PHOTO: The logo of Codelco, the world's largest copper producer, is seen at their headquarters in downtown Santiago, Chile March 29, 2018.
The company, which has some of the highest input costs for miners in Chile, said in July direct production costs during the first six months of the year jumped 41.3% to hit about $2.12 per pound, from $1.506 the year before.
In response, Codelco said it had a solid financial position and broad access to financial markets.
The South American country has the world’s largest lithium reserves.
Persons:
Codelco, Ivan Alvarado, Maximo Pacheco, Pacheco, ” Pacheco, Alejandro Rivera, Rivera’s, Rodrigues, Blaine J, Maximo Pacheco’s
Organizations:
REUTERS, Reuters, London Metal Exchange, for Copper, Mining Studies, Moody’s Investor Services
Locations:
Santiago, Chile, London, China