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Codelco posts highest profit for a decade

Chile’s state copper company Codelco posted its highest quarterly profit in a decade of US$1.6 billion in the three months to March 31 on production of 386,000 tonnes of copper at a C1 cash cost of US$132.4c/lb.

Codelco posts highest profit for a decade Codelco posts highest profit for a decade Codelco posts highest profit for a decade Codelco posts highest profit for a decade Codelco posts highest profit for a decade

Codelco's El Teniente operation in Chile

"We produced more copper, kept direct costs low and made progress in achieving better management in all areas, which was supported by a good price of the metal," said Codelco chair Juan Benavides.