Codelco Mining News

Chile steps up efforts to lure mining investors beyond copper sector

The country, already the world's second largest producer of lithium, is seeking to create private-public partnerships to exploit 61% of its resource-rich territory, currently available for licensing.

Ecuador anticipates $4 billion in mining investments by 2021

The country expects mining investments to increase 360% in the next four years compared to the 2013-2016 period as it has already granted 160 of the 420 explorations licences it put out to tender in July.

Hedge funds have never been this bullish about copper price

Chile closes ports servicing some of the world's biggest copper mines due to rough seas while Escondida strike looms.

Chile injects $975 million into state-owned copper giant Codelco

Moves is expected to help the copper giant cope with a recently passed law that forces it to give 10% of its revenues to the armed forces.

Anglo American about to make key decision on South African assets sale

While the miner is not longer being pressed to include its platinum assets in the divestment plan, the issue of how to package mines and which ones to include, remains a bone of contention.

Anglo's Los Bronces mine in Chile to remain shut until safe to resume work

Decision follows a fresh attack by hooded protesters who seized installations over the weekend.

Anglo's Los Bronces copper mine in Chile seized by protesters

About 100 hooded protesters have seized parts of the copper mine, Anglo American's biggest operation in Chile.

Chilean mining costs highest in the world, despite saving measures

Production costs in Chile, the world’s No. 1 copper producer, were 5.4% higher last year when compared to its global peers’ average.

Anglo American soars on positive production report

Shares were up more than 5% after the firm posted higher output across all divisions, except for copper, and said market conditions for its diamond business had improved.

Chile's Codelco delays $2.25 billion in investments on copper prices slump

Phase two of its Radomiro Tomic sulphide project and a new level at El Teniente, are the most affected projects.

Strike ends at Anglo American Los Bronces mine in Chile

Los Bronces, Anglo American’s flagship operation, is expected to produce between 600,000 and 630,000 tonnes of copper this year.

Codelco warns strike at Salvador mine risks division’s future

Salvador, Codelco’s smallest operation, has been battling to turn a profit after dwindling ore grades pushed up production costs.

Chile’s Codelco may slash copper output as it further cuts costs to the bone

The world's top copper miner admits to be facing its “worst crisis ever” since created in 1976.

More bad news for copper price

Study shows the most efficient mines in top producer Chile now produce copper for less than $1 a pound after finding an additional 13% in savings this year.

World's largest underground copper mine remains shut on heavy rains, mudslides

Chile's Codelco said that it loses about 1,500 tonnes of copper output for each day El Teniente mine remains inactive.

Codelco scraps plans for new mine at El Salvador division

Decision would reduce the total investment needed to $600 million from the whooping $3 billion it was originally estimated.

Forget about ‘Los Bronces’; that mine is ours — Anglo to Codelco

Codelco is facing mounting internal pressure to acquire Anglo's stake in Los Bronces mine, in which the Chilean miner already has a 29.5% interest.

World’s No.1 copper miner Codelco posts historic loss of $1.4bn in 2015

For every penny copper prices drop, Codelco loses $36 million and Chile, the world's largest producing country, $50 million.

Chile helping miners to stay afloat, but threat of labour reform, lower copper prices loom

The government has set aside some $20 million through June to assist small and medium miners

World's top copper miner sees metal at $2 a pound for at least two years

Codelco says current copper rally will be short-lived.

Copper prices plummet on China worries, oil collapse

The London Metal Exchange’s three-month copper contract fell as much as 1.4%, the most since Feb. 10, to $4,580 a metric ton.

Leakage at Anglo American’s Los Bronces mine forces firm to halt grinding

Firms says the affected pipe only carries ground ore mixed with water.

Antofagasta to lift copper output in 2016 after missing last year's target

The miner expects an output of 710,000-740,000 tonnes for 2016 as it ramps up production at its Antucoya and Centinela Concentrates mines, as well as from its share in Zaldivar mine, which co-owns with Barrick Gold.

Chile losing ground as top copper producer since metal price in the pits

From 2005 to 2015 Chile's copper output rose a mere 8%, while Peru’s grew 37%, China’s 114%, Zambia’s 72% and Congo’s 956%.

Chile mulls scrapping copper funding for military

Codelco chairman, Oscar Landerretche, wants the government to scrap the country’s Copper Law, which forces the firm to give 10% of its annual export revenue to the Armed Forces.