Copper output at Chile's Codelco set to rise this year, CESCO says [Yahoo! Finance]
CME Group Inc. - Class A (CME)
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Source: Yahoo! Finance
this year and begin to climb from its lowest dip in a quarter century, the head of Chilean copper studies center CESCO said ahead of a major industry conference that starts Monday. Codelco is aiming to produce between 1.325 million and 1.390 million metric tons of copper this year, a target that at best would see it lightly overtake its 2023 output of 1.325 million metric tons. That goal appeared realistic, said Jorge Cantallopts, head of the Center for Copper and Mining Studies (CESCO) in Chile, the world's top producer of the red metal. "We think that the level of production for this year will be better than the last one," he said in an interview on Friday. Output could rise at Codelco's Andina, Salvador and Chuquicamata mines, he noted, even as challenges continue for structural projects - mega projects designed to extend the life of key mines and compensate for a drop in ore grades. They include a $5 billion revamp of Chuquicamata, a project that Reuters found has suffer
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