Chile Protests Threaten to Dethrone World’s Top Copper Producer
- Codelco upgrades at risk as government boosts social spending
- Earnings likely to spur funding questions in wake of protests
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Codelco’s standing as the world’s top copper producer is increasingly at risk in the wake of a citizen uprising that is shaking Chile to its core.
Codelco planned to spend $20 billion over a decade to modernize its aging mines and hold off a looming production slump. But protests that have sent millions into the street to demand changes in everything from pensions and health care to education could jeopardize the state-owned miner’s push for needed government funding.