All That Glitters
Copper company Codelco posted a banner year in 2004, largely on exports to Asia. CFO Francisco Tomic shares his optimism over what's ahead in 2005.
Chile's national copper company, Codelco, closed a strong 2004, with revenues of $3.3 billion, and was optimistic about its performance in 2005. One of the forces behind the company's success in a globalized economy has been its CFO, Francisco Tomic. A black-belt in karate with a sense of humor he has a singing "Billy Bass" plaque in his Santiago office Tomic spoke with LatinFinance from the copper-colored high-rise where Codelco is headquartered. Some excerpts:
LF: It looks like 2004 was an outstanding year for Codelco.
Francisco Tomic: It's been an extraordinary year. We make up 3% to 4% of the GDP of Chile. We managed to stockpile 200,000 tons of copper. We just renegotiated our contract with the unions, to continue our record...
Already have an account?
Subscribe now for unlimited access to all current and archive news, data and market analysis.
Take a free two-week trial now for the latest news, data and market analysis.