Top Copper Miner Says It Can Fund Key Projects Through 2020
- Codelco to talk to Chile government next year, Benavides says
- Company is not planning to issue more bonds this year
The Codelco Chuquicamata open pit copper mine stands near Calama, Chile.
Photographer: Cristobal Olivares/BloombergThis article is for subscribers only.
The world’s largest copper producer has sufficient funding this year and next to develop the multibillion mine upgrades essential to maintain its production at current levels, according to Chairman Juan Benavides.
State-owned Codelco is well financed and doesn’t need government funding or to issue more debt this year, Benavides said in an interview in Santiago on the sidelines of Cesco Week metal conference. Conversations with government over an additional funding package for 2021 and beyond will need to happen next year, as well as the possibility to increase debt levels, he said.