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Chilean copper producers are increasing production volumes, but losing profits

Chilean copper producers warn about the increase in red metal production in the first quarter of this year, noting that their income is reduced. In particular, the leadership of the largest operator of the market of non-ferrous metals in the country (which, in combination, and the most powerful producer of copper in the world) — the company «Corporación Nacional del Cobre de Chile» (CODELCO) — claims to increase the resource production volumes at its own facilities in the first 4 months of 2013 to a level of 385 thousand. tonnes and tells the parallel reduction of business income to $ 868 million.

«For the first 4 months of our company produced copper is 3.2% more than in the same period of time last year. Then the figure CODELCO could not overcome the bar at 374 thousand tons. «- Shared with journalists the results of the work of the enterprise in the first quarter of the head of the» Corporación Nacional del Cobre de Chile «- Ivan Arriagada (Ivan Arriagada). «In parallel with this, the data on the company's profit for the period showed a negative trend. If in the past year between January and April income of the organization (before taxes) amounted to 1.51 billion. USD, then for the I quarter of this year, this figure has decreased by 42.52% (ie. E. The enterprise income before deductions to the budget amounted to only $ 868 million). Such radical changes are associated with the state of the global market, where the price of copper for a long time left much to be desired «- concludes the representative of the top management of the Chilean corporation.

«The Chilean National Copper Corporation» shall maintain a record of its history since 1955, but in its current form property company has a total of 42 years (previously disparate assets of the organization were united only in 1971, when «Cobre de Chile» was nationalized).

Today, CODELCO tops the list of the world's largest copper producers, producing more than half a million tonnes of the red metal annually. Last year at the facilities of the corporation was produced 1.65 million. Tons of Cuprum, which is about 1/10 of the total production of the resource on a global scale.

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