SANTIAGO (Reuters) -Chile's state miner, Codelco, on Friday cut its copper output forecast for 2023 and said it expects more halts in production during the second half of the year, following months of declines. The miner expects to have a yearly production of between 1.31 million-1.35 million metric tons from 1.35 million-1.45 million tons previously forecast, it said on Friday, as it reported that pretax profit fell 86% in the first six months of this year. The miner's pretax profit landed at $329 million for the first half of 2023, while its copper output slipped 14% year-on-year to 633,000 metric tons, extending a slowdown reported in the first three months of the year.
/PRNewswire/ CONSENSUS - Uphold, the Web3 financial platform, today announced Topper, a new fiat-to-crypto on ramp. Topper is designed to provide a simple.
Terry Wickstrom, host of Terry Wickstrom Outdoors every Saturday morning on 104.3 The Fan, is a nationally published outdoor writer. His articles appear
(Bloomberg) A proposal to tax Chilean copper sales at rates of as high as 75% is reverberating all the way to Peru, where the leading presidential candidate wants to impose a similar measure.Pedro Castillo, who has vowed to nationalize a major gas field and capture more mineral profits to fund social spending, just added a tax on copper sales to his platform in a document he shared on Twitter late Sunday.The left-wing candidate, who retains a slim lead over his rival ahead of a runoff election, joins a list of politicians from copper-mining nations looking to gain a bigger share of record-high prices to fight poverty. In top producer Chile, the lower house of congress earlier this month passed a system of progressive taxes on copper sales in what could become one of the heaviest levies in global mining.“Let us note that the Chilean Chamber of Deputies has already approved a new royalty whose rate reaches 75% if it exceeds $4 a pound, as is the case today,” Castillo