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Codelco copper production in 20018 dips YoY-2019 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
4/1/2019 - Copper exhibition -non-ferrous metals expo |
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World’s top copper producer, Chilean state miner Codelco produced slightly less copper in 2018 than the year before, as it continued to contend with declining ore grades and rising costs at its aging mines. CEO Mr Nelson Pizarro said the company produced 1.678 million tonnes of copper at its own mines in 2018, down 3.3% YoY and a total of 1.806 million tonnes, including production from its joint ventures at El Abra and Anglo American South. Codelco reported a 2018 pre-tax profit of USD 2.002-billion, down from USD 2.885 billion the previous year as production costs rose 2 per cent and the price of copper fell from 2017. Codelco said it also took a one-time deduction for deteriorating assets of nearly USD 400-million, for a total drop in pre-tax profits of 44.3%.
Mr Pizarro said at a presentation at Codelco’s Santiago headquarters that 18 labor negotiations at its mines had also affected the bottom line but that productivity increases kept costs in line with industry averages.
Mr Pizarro predicted a copper price of USD 2.95 per pound for 2019.
有色金属展-铜材展-2019年广州国际有色金属工业（铜业）展览会
-2019 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
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