Codelco earnings down on prices, Anglo deal

Dec 02, 2013 | 12:48 PM | Carolina Guerra

Tags  Corporación Nacional del Cobre de Chile, Codelco, earnings report, copper, Anglo American Sur, Iván Arriagada, Carolina Guerra

SÃO PAULO — Corporación Nacional del Cobre de Chile (Codelco) has posted an earnings decline due mostly to falling copper prices and because last year’s results included extraordinary gains from its deal with Anglo American Sur.

The Chilean state-owned company reported pretax earnings of $2.67 billion for the first nine months of this year, down 61.5 percent from $6.94 billion in the same period last year, on copper sales that fell 4.9 percent to $8.8 billion from $9.25 billion.....

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