Codelco moves cost-cutting plans forward

Apr 08, 2014 | 06:01 PM | Andrea Hotter

Tags  Codelco, Corporación Nacional del Cobre de Chile, copper, Thomas Keller, Cesco, cost-cutting plans, Ministro Hales, El Teniente Chuquicamata

SANTIAGO, Chile — Corporación Nacional del Cobre de Chile (Codelco) is pushing ahead with its cost containment and productivity improvement initiatives as it seeks to mitigate the effect of fluctuating copper prices and lower ore grades, according to the company’s top executive.

The Chilean state-owned company is driving cost-cutting measures, particularly on the productivity side, and bringing new projects to the market that have streamlined cost structures from the outset, chief executive officer Thomas Keller said.

"Costs are an adjusting factor; every miner faces that challenge. Going forward, many of our projects will provide an opportunity to increase ore grades," Keller told AMM during the Center for Copper and Mining Studies’ annual Cesco Week in Santiago. ....

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