Chile’s National Copper Corporation (Codelco) will open a new office in Singapore next November, to boost its sales in India and Southeast Asia.
Codelco has a representative office in Shanghai but is now looking to expand its sales in Vietnam, Malaysia, and Thailand, as well as capture business opportunities in India, the miner reported to international media.
Carlos Alvarado, vice president of Marketing, Codelco, explained that Asia is the company’s largest market, that is why it seeks to expand its strategy of opening up to the region.
This zone accounts for around 8pc of refined copper consumption globally, but this figure could rise to 20pc by 2040, according to the miner.
That is why Codelco is preparing with a mature commercial strategy and establishing long-term alliances with end customers in Asia and Europe, besides strengthening its leadership in sales of the red metal to the United States, Alvarado stated.