According to the Director General of the Chilean copper producer Codelco Diego Hernandez, the production of the «red metal» by the company in the I quarter increased by 3.2% to 383 thousand. Tons, to 371 thousand. Tonnes by the end of the same quarter of the previous year. Taking into account the development of the mine El Abra, in which Codelco owns 49% stake and which is operated by Freeport-McMoran Copper & Gold Inc., Codelco copper production in January-March reached 402 thousand. T (compared to 390 thousand. T last year).
Earnings before tax amounted to Codelco in this quarter of $ 1.48 billion, compared with $ 275 million in the same period of 2009 (average price of copper in January-March amounted to $ 3.29 per pound compared to $ 1.56 per pound in the I quarter of 2009)