Top Copper Producer Codelco Boosts Output to Tap Price Jump
- Codelco is managing to operate through a Covid surge in Chile
- Company has slowed project development to protect workers
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Codelco, the world’s biggest copper producer, saw sales more than double in the first quarter as production rose and prices of the metal surged.
The state-owned producer churned out 386,000 metric tons from its own mines in Chile, up 7% from a year ago, thanks in part to an improvement in ore quality after a multi-billion-dollar overhaul of aging deposits. Nevertheless, a surge in Covid-19 cases in Chile has slowed project development.