Chile Shuns Copper Giant Investment as Social Problems Mount
- Finance minister says no plan for capital injection in Codelco
- Miner planned to spend $20b over a decade to boost output
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Chile’s government ruled out fresh funds for its strategic copper producer, as it plans to spend $3 billion this year to contain a wave of nationwide protests.
Codelco, as the world’s largest copper producer is known, needs billions of dollars to upgrade its mines but will need to find other sources of financing, according to Finance Minister Ignacio Briones.