Page 145 - Codelco News Today

Chilean copper production down 5% in February, Cochilco says Chilean mined copper output reached 425,500 tonnes in February, down by 5.02% from 448,000 tonnes in the same month last year, amid significant drops reported by Escondida and Los Pelambres, data from national copper commission Cochilco showed. This was the eighth consecutive month in which Chile recorded a year-on-year drop in production. In January-February, the country produced 882,700 tonnes of copper, do...

2 Min Read SANTIAGO (Reuters) -Chilean state copper giant Codelco clinched a deal with workers at its Radomiro Tomic mine after they accepted a new contract offer on Wednesday, defusing worries about a potential strike with global prices of the red metal at decade highs. The worker union said that the contract proposal was approved in a statement sent to Reuters. It added that there had been a strong vote in favor of a strike, but it had fallen short of the absolute majority needed. The union v...

Codelco agrees 3-year labor deal at Radomiro Tomic copper complex Chilean state-owned copper producer Codelco has reached a 36-month labor agreement with the management and the workers union at its Radomiro Tomic copper complex, the company said this week. There was a consensus on no wage increases and a term bonus of 4.16 million Chilean pesos ($5,729), the company said on Wednesday March 31. The deal also includes incentives for different goals, such as overcoming spe...

Latin American bond issuers are expected to flood the market this month. Bankers have adjusted to digital dealmaking, but some clients need greater hand-holding. Many expect a return to travel but at a reduced level. Latin Americas bond market might be dwarfed by its gargantuan US peer, but for the tight-knit clique of bankers that ply their trade in the region, April is shaping up to be a busy month. A year after the pandemic spurred a deluge of new bond sales, borrowing costs remain low. And ...

(Updates prices) LONDON, April 1 (Reuters) - Copper prices slipped to their lowest in almost a month on Thursday on concern over slowing growth in top metals consumer China as it seeks to rein in debt levels and trim stimulus spending. Three-month copper on the London Metal Exchange (LME) had dipped 0.1% to $8,776 a tonne by 1555 GMT, having touched $8,695 for its lowest since March 5. “There are concerns about China deleveraging; that seems to be uppermost in a lot of people’s minds. How m...

2 Min Read SANTIAGO (Reuters) -Chilean state copper giant Codelco clinched a deal with workers at its Radomiro Tomic mine after they accepted a new contract offer on Wednesday, defusing worries about a potential strike with global prices of the red metal at decade highs. The worker union said that the contract proposal was approved in a statement sent to Reuters. It added that there had been a strong vote in favor of a strike, but it had fallen short of the absolute majority needed. The union v...

(Updates prices) HANOI, April 1 (Reuters) - London copper prices fell on Thursday to their lowest in nearly a month, hit by a survey showing subdued factory activity growth in top consumer China last month, and as a supply threat in Chile was averted after top producer Codelco struck a wage deal. Three-month copper on the London Metal Exchange fell 0.9% to $8,710 a tonne by 0725 GMT, having dropped to $8,695 a tonne, its lowest since March 5, earlier in the session. The most-traded May copper c...

Mainstream media and the large mining companies are finally catching on to what we at AOTH have been saying for the past two years: the copper market is heading for a severe supply shortage due to a perfect storm of under-exploration/ lack of discovery of new deposits, clashing with a huge increase in demand due to electrification and decarbonization. Dramatic price rise Copper is trading over $4.00 a pound this year on rapidly tightening physical markets, rebounding economic growth...

Chile's Codelco, the world's largest copper producer, said on Tuesday it had received approval from the regional environmental regulator to extend the life of its Radomiro Tomic mine until 2030, a key part of a larger plan to maintain output from its aging operations in the South American nation. The Radomiro Tomic mine, which produced 261,000 tonnes of copper in 2020, was originally slated to end operations in 2022, the state-run company said, but advances in technology and processes...

Codelco is in the midst of a 10-year, $40 billion initiative to upgrade its century-old network of mines in Chile.