Codelco’s Copper Output Down 3% YoY in the First 9 Months

SHANGHAI, Nov 24 (SMM) – Codelco said on Thursday that the company’s copper output from January to September dropped to 1.24 million tons, down 3% YoY, while PBT surpassed USD 1.6 billion, compared with USD -18 million in the same period of last year. From January to September , the direct cash cost has rised from USD 1.27 / pound in 2016 to USD 1.32 / pound because of the company’s decreasing grade of ores, a  problem which troubles Chile for a long time.