(Bloomberg) Codelco’s new boss is restructuring management at the Chilean state copper behemoth as he looks to turn around under-performing mines and projects that have crimped both production and profit.Most Read from BloombergIsrael Latest: Over 1,100 Dead; US Sends Warships to RegionIsrael Latest: Over 1,100 Dead as Conflict Enters Third DayAs Israel-Hamas War Rages, Oil Traders Focus on IranIsraelis Taken Hostage Were Ripped From Everyday ActivitiesOil Surges as Hamas Attack on Israel Fan
Chile s Codelco sees copper output starting to recover in 2024 | Hellenic Shipping News Worldwide
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Codelco to meet obligations as financials deteriorate -JPMorgan
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Chile's Codelco, the world's largest copper producer, will meet its financial obligations despite headwinds from a series of operational problems and from high levels of debt and investments, JPMorgan said on Tuesday. Codelco's copper production fell in 2022 to its lowest level in 25 years, exacerbated in part by delays to key projects for extending the lives of its mines. "We believe Codelco will be able to meet all of its financial obligations despite the elevated capex budget and operational issues it has faced that has led to reduced production and increased unit costs," JPMorgan analyst Ian Snyder said in a note.