Metals News
Chile's Codelco Sees no Subcontractor Woes
industry news
May 14,2010

SANTIAGO, May 13 (Reuters) - Chile's Codelco, the world's top copper producer, said on Thursday it had no signs of problems with subcontractors following protests at the private Collahuasi copper mine that fanned fears of contagion.
Codelco Chief Executive Officer Jose Pablo Arellano said operations were normal.

He added that he has an optimistic view on copper prices, but that volatility is likely to remain due to the pace of the global economic recovery.

Arellano, who will step down from his post on May 18, said the upcoming CEO Diego Hernandez faces a great challenge to keep the company's investment plan as its mines face lower ore grades.

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