Codelco Aims to Boost Copper Output Amid Production Challenges

Chilean state miner Codelco targets 1.391 million metric tons of copper production in 2025 and has planned investments of $4.727 billion. With copper prices anticipated at $4.30 per pound, Codelco forecasts $22.23 billion in revenue and $3.105 billion pre-tax profit, aiming to overcome recent low production levels.

Chilean state miner Codelco, known as the world's largest copper producer, is setting ambitious goals for the coming years. A government decree reviewed by Reuters reveals that Codelco is planning to produce 1.391 million metric tons of copper by 2025.

Struggling to overcome production levels not seen in a quarter-century, the company has sanctioned $4.727 billion in investments. This includes $3.972 billion plus Value Added Tax (VAT), according to the official document.

In its financial projections, Codelco has forecasted a copper price of $4.30 per pound with production costs of $1.98 per pound. The company expects to generate $22.23 billion in operating revenue, translating into a pre-tax net profit of $3.105 billion.

(With inputs from agencies.)