Codelco shifted more spot copper sales to the US.

On March 28 (Friday), Ruben Alvarado, CEO of Codelco, the world's largest copper producer, stated that the company has already shifted some spot sales to the US.

Alvarado also mentioned that he sees no reason for copper to be subject to sanctions or tariffs, and expects the long-term fundamentals of copper demand to remain strong beyond short-term fluctuations.

"In 2024, our production successfully emerged from the trough," the company stated in its performance report, adding that the company has reduced costs and resolved some long-standing issues at key plants.

The company also stated that it expects the Andesita and andesnorth projects to commence production this year.

Codelco stated that it expects copper production to reach 1.37-1.4 million mt in 2025.

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Over 3,000 industry elites, representatives from upstream and downstream enterprises of the copper industry chain, government officials, industry associations, third-party equipment, logistics and warehousing, as well as experts from universities and research institutions will gather together. The conference covers mines, smelting, copper processing, trade, recycling, and end-use applications, encompassing the entire copper industry chain.

At the conference, more than 100 exhibitors will showcase the latest copper processing and smelting equipment, high-quality raw material suppliers, and new-type copper-based materials, highlighting the innovation and vitality of the copper industry.

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