Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Codelco, the world’s top copper producer, approved a plan to invest $3.65bn in several mining projects that will boost its total output.


Of the total amount, $1.6bn is earmarked to develop the Andes Norte, Traspaso Andina and Chuquicamata Subterránea mines, the company said.


Around $1.8bn is set aside for continuity and mining development projects, although the company did not disclose which ones.

In 2019, the company invested $3.63bn in its mining projects, and around $3.5bn the year before.


The Chilean company’s production declined by 6.8pc to 118,600mt in January 2020 compared to the same month a year earlier, according to the latest figures from the Chilean Copper Commission.

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