Biggest Copper Miner Joins Cutback Frenzy Sweeping Industry

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  • Chile miner sees prices at about $2.50 a pound next year
  • CEO: $25 billion business plan will be lowered after rout

Codelco, the world’s biggest copper-producing company, is going back to the drawing board on one of its biggest projects as it joins an industrywide effort to reduce spending.

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