Codelco's logo is seen at the entrance of its Ventanas copper smelter in Ventanas, Chile October 18, 2019.
REUTERS/Rodrigo Garrido/File Photo Acquire Licensing RightsSANTIAGO, Sept 5 (Reuters) - Chile's Codelco raised $2 billion in a bond offering in New York on Tuesday, as the world's top copper producer seeks to fund an investment drive to revive flagging output.
"This financing seeks to ensure the availability of resources for the development of a demanding portfolio of investments that for this year will need a total of $4.1 billion," Codelco said in a statement.
It said the firm would need to lift its investments to about $4 billion from $3.3 billion to boost its "structural projects."
Codelco's production slipped last year to about 1.45 million metric tons, the lowest in around a quarter of a century, and output has slipped further this year with the miner expecting to produce between 1.31 million to 1.35 million metric tons of copper.
Persons:
Rodrigo Garrido, Codelco, Moody's, Fabian Cambero, Kylie Madry, Steven Grattan, Emelia, Jonathan Oatis
Organizations:
REUTERS, Rights, Treasury, BNP, Citi, J.P, Santander, Scotiabank, Thomson
Locations:
Ventanas, Chile, New York, Morgan