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World's Top Copper Miner Wants CEO to Stay to Contain Costs

  • Codelco chairman calls for Nelson Pizarro to be reappointed
  • Big miners are still cautious about starting new investments
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Photographer: Taylor Weidman/Bloomberg

Updated on

Codelco’s Chief Executive Officer Nelson Pizarro should be reappointed in the role when his term ends next year to maintain the company’s focus on cutting costs and spending, its chairman said.

“A lot of people including myself are promoting the idea that Nelson continues on as CEO for a couple of years if possible,” Oscar Landerretche said in an interview in Shanghai during Asia Copper Week. He’s trying to persuade Pizarro not to retire and has been telling politicians from all parties why he should stay. The state-owned company is the world’s biggest producer of copper.