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Home / Metal News / Codelco to Cut Cash Cost against Falling Copper Prices

Codelco to Cut Cash Cost against Falling Copper Prices

Nov 6, 2015 13:20

Source:SMM

Codelco, the world’s largest copper producer, said it will trim cash cost by 50 cent per pound in copper smelting amid continuously sliding copper prices, according to wenhua.com.

SHANGHAI, Nov. 6 (SMM) - Codelco, the world’s largest copper producer, said it will trim cash cost by 50 cent per pound in copper smelting amid continuously sliding copper prices, according to wenhua.com.

“We plan to lower our cash cost in the next ten years.”said the company’s Chief Executive Officer Nelson Pizarro.

Codelco’s direct cash cost was $1.40 per pound in the first half of 2015. The company’s profit was bit by sluggish copper prices, despite lower cost from cheaper crude oil.

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