https://www.engineeringnews.co.za

Chilean miner Codelco says copper price spike will bolster war chest, raise costs

24th February 2021

By: Reuters

  

Font size: - +

SANTIAGO – Chile’s State-owned Codelco, the world’s largest copper producer, views recent spike in the price of the red metal as a “good opportunity” to generate cash for investments and hold down debt, but warned it could also drive up the miner’s costs, a senior executive told Reuters on Monday.

The price of copper shot above $9 000/t for the first time on Monday since 2011, as a nascent global economic recovery has prompted demand to boom for the commodity, critical to global construction and manufacturing sectors.

Codelco vice president of sales Carlos Alvarado said the growing expectations would likely also spur goods and service providers to hike prices, leading to higher overall costs for the state-run miner.

The executive said it was still “too early” to know if the spike in the global copper price represented a new “super-cycle,” similar to that seen in the early 2000s following a tectonic demand boost from industrialization and urbanisation in emerging nations.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Alcohol Breathalysers
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.06 1.74s - 140pq - 2rq
Subscribe Now