All That Glitters
Mar 1, 2005
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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