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May 06, 2015 3:00 PM ET

Metals and Mining

Company Overview of Corporación Nacional del Cobre de Chile

Company Overview

Corporación Nacional del Cobre de Chile engages in the exploration, development, and exploitation of copper mineral resources and byproducts in Chile. Its principal product includes copper cathodes. The company also produces copper concentrates; blister and anode copper; and by-products, such as molybdenum, anode slime, and sulphuric acid. In addition, it manufactures wire rods, a semi-manufactured product that uses copper cathodes as raw material. The company exports its products to Asia, Europe, South America, North America, and Oceania. Corporación Nacional del Cobre de Chile was founded in 1976 and is headquartered in Santiago, Chile.

Huérfanos 1270

PO Box 150-D

Santiago,  

Chile

Founded in 1976

Phone:

56 2 690 3000

Key Executives for Corporación Nacional del Cobre de Chile

Chief Executive Officer
Vice President of South-Central Operations
Chief Financial Officer
Vice President of Operations
General Manager of Cms Chile S A
Compensation as of Fiscal Year 2014.

Corporación Nacional del Cobre de Chile Key Developments

Codelco to Invest $4 Billion in 2015

Codelco announced that it is set to invest $4.0 billion in 2015 compared with the 2014 amount of $3.38 billion. Of the total, $1.2 billion will go towards so-called structural projects, aimed at boosting production to 2Mt by 2025. Codelco's 2014 production was 1.84Mt. The focus of the investments in the structural projects this year will be those already under construction: the new level at its El Teniente mine and the underground transformation of its Chuquicamata mine, Pizarro told reporters following a shareholders' meeting that included the presence of the ministers of finance and mining. Some $731 million will be invested in environmental upgrades, focused particularly on the company's network of smelters and refineries, which are due to be upgraded to meet new emission standards scheduled to be enforced in 2018. Finally $1.18 billion will be invested to improve productivity and maintain current production, as well as in exploration an innovation.

Luz Minera Set To Switch State Hands

The Chilean government is in talks with Corporación Nacional del Cobre de Chile about the possible purchase of the Luz Minera project.

Corporación Nacional del Cobre de Chile Announces Operating and Financial Results for the Fiscal Year 2014

Corporación Nacional del Cobre de Chile announced operating and financial results for the fiscal year 2014. For the year, the company's output totaled 1,841,000 tonnes of refined copper, including its interest in El Abra and Anglo American Sur. The copper produced by its divisions rose 3.1%, mainly because Ministro Hales Division ramped-up operations. During this period, by-product output also increased. Molybdenum production rose 33%, silver production rose 119%, gold production rose 14% and sulphuric acid production rose 8%. For the year, the company announced that due to lower copper prices, its pre-tax profit was USD 856 million less than in 2013, totaling USD 3.033 billion.

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