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...
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