Chile's Codelco Copper Output Up 16 pct in 2009

Feb 25 (Reuters) - Chile's Codelco, the world's top copper producer, increased copper output 16 percent to 1.7 million tonnes in 2009 as it forged ahead with heavy investments during the global slump.
 
That marked the end to four consecutive years of dwindling output as lower grades at aging mines and labor strikes hit output of one of the main revenues-earners of the Chilean state.

The total did not include output from El Abra which is a joint venture between Codelco and a private company.

The state miner produced 1.46 million tonnes of copper during the same period the previous year.

The giant miner produced 21,500 tonnes of molybdenum, a metal used to strengthen steel, in 2009.

Its profits before tax and extraordinary items fell 18 percent in 2009 to $4 billion due to lower copper prices amid the world-wide economic crisis.