The Chilean state Codelco records US$ 7,394 million in profits in 2021, 256% more than in 2020 and reached its best result in 9 years, due to the favorable situation for copper.
According to Octavio Araneda, executive president of Codelcothis success was due to the “strong impact on the increase in the average price of copper and to a lesser extent due to a positive effect experienced by the other non-operating results”.
“Fundamentally due to exogenous effects, higher input prices that already towards the end of 2021 began to put pressure on the industry’s operating costs,” the executive told the press.
In this way, the company’s contribution to the treasury was US$ 5,572 million, “the highest figure in the last decade,” he said.
Meanwhile, its own production remained at 1,618,266 tons of fine copper, which, added to the contribution of the shares that the company has in the El Abra and Anglo American Sur deposits, reaches a total of 1,728,000, also similar to last year’s levels.
“Own production reached 1,618,266 tons of fine copper, maintaining the figures of the previous year, despite the restrictions of the pandemic, thanks to the continuity of operations and a better grade,” Codelco said on its Twitter account.
On the other hand, Araneda commented that the current crisis in Ukraine would not be significant at the sales level for the company due to the low exposure to that market, while the Vice President of Finance, Alejandro Rivera, considered that the global price of copper should remain this year around current levels of not escalating the conflict.
Source: Larepublica
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