Codelco to Cut Cash Cost against Falling Copper Prices

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.

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.