February 28, 2022 |
Chilean copper miner Codelco is pressing ahead on expansion projects to boost production after posting a surge in profits last year, chairman Juan Benavides said Friday.
The state-owned company expects to invest $1.4 billion to build Rajo Inca, a project that will increase the copper output from its aging Salvador division by 50% to 90,000 metric tons per year from 2023, Benavides said in a statement.
The effort comes after the company saw its profits more than double to $7.4 billion in 2021, th
Chile's state-owned mining company is investing $1.4 bln to expand output after near-record profits