Chile Codelco Says Lost 11,300 T Copper Due Quake-Shanghai Metals Market

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Chile Codelco Says Lost 11,300 T Copper Due Quake

Industry News 08:53:39AM May 28, 2010 Source:SMM

SANTIAGO, May 27 (Reuters) - Chile's state miner Codelco [CODEL.UL] said on Thursday it lost 11,300 tonnes of copper due to a massive quake in February, but the world's top producer expects output to come in above 1.7 million tonnes in 2010.
 
New CEO Diego Hernandez said he expected copper prices to remain stable in the short- to medium-term, and said he saw no problem in financing the company's 2010 investment plan. He added Codelco had no plans to issue debt in the short-term.
 

Chile Codelco Says Lost 11,300 T Copper Due Quake

Industry News 08:53:39AM May 28, 2010 Source:SMM

SANTIAGO, May 27 (Reuters) - Chile's state miner Codelco [CODEL.UL] said on Thursday it lost 11,300 tonnes of copper due to a massive quake in February, but the world's top producer expects output to come in above 1.7 million tonnes in 2010.
 
New CEO Diego Hernandez said he expected copper prices to remain stable in the short- to medium-term, and said he saw no problem in financing the company's 2010 investment plan. He added Codelco had no plans to issue debt in the short-term.