Codelco forecasts US$14bn revenues for 2019
Chilean state copper producer Codelco has optimistic forecasts for this year. With an estimated copper price of US$3/lb (US$0.5 higher than in 2018), the company expects to generate nearly US$14bn in revenues in 2019, while operating costs are expected to be US$9.9bn.
In line with these results, the company's earnings before tax for 2019 are expected to be US$2.8bn and total profit should reach US$512mn, Codelco said in a filing to the finance ministry's budget office.
The state-owned company is also optimistic regarding copper production. Codelco expects to produce 1,730Mt of the red metal compared to 1,677Mt in 2018.
Last week, the government handed Codelco the remaining US$400mn of the US$1bn "extraordinary" capitalization it promised in 2018. The investment will help support plans to kick off underground operations at Chuquicamata mine in northern Chile.
Codelco's investment plan includes US$3bn for 2020, US$2.3bn for 2021, US$1.15bn for 2022 and US$603mn for "the following years," added the company in the filing.
Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.
News in: Mining & Metals (Chile)
EU eyes Latin American minerals to offset China's dominance
Regulatory uncertainties in Chile, Bolivia and Mexico mean that by 2030 about 63% of global lithium supply will come from hard rock and not brines,...
Chile's tax proposal could limit appeal of mining projects
BNamericas talks to Alicia Domínguez, lawyer, tax partner and leader of consultancy EY's energy and mining department, about progress and problems ...
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects in: Mining & Metals (Chile)
Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.
- Project: Penco Module (ex BioLantánidos)
- Current stage:
- Updated:
2 months ago
- Project: Development of Infrastructure and Improvement of Productive Capacity of Collahuasi Mine (FHC)
- Current stage:
- Updated:
2 months ago
- Project: Thickened tailings deposit optimization and related works
- Current stage:
- Updated:
2 months ago
- Project: Alternative Project Tailings Deposition in Pit
- Current stage:
- Updated:
2 months ago
- Project: Minera Zaldívar recovery optimization (Zaldivar Chloride Leach)
- Current stage:
- Updated:
2 months ago
- Project: Compañía Minera Zaldívar operational continuity
- Current stage:
- Updated:
2 months ago
- Project: Desalination Plant and Water Supply Cerro Colorado (Stages I and II)
- Current stage:
- Updated:
2 months ago
- Project: Cachinal
- Current stage:
- Updated:
2 months ago
- Project: Farellón (Hugo tunnel extension)
- Current stage:
- Updated:
2 months ago
- Project: Llahuín
- Current stage:
- Updated:
2 months ago
Other companies in: Mining & Metals (Chile)
Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.
- Company: Compañía Minera del Pacífico S.A. (CMP)
-
Compañía Minera del Pacífico S.A. (CMP), the mining arm of Chilean iron ore and steel group CAP S.A., engages in iron ore production with properties in regions II, III and IV. I...
- Company: Corporación Nacional del Cobre de Chile (CODELCO)
-
Chile's state-controlled miner Corporación Nacional del Cobre (Codelco), considered the world's largest copper and molybdenum producer, is engaged in the exploration, processing...
- Company: Edyce S.A. (Edyce Metalúrgica)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Normet Chile Limitada (Normet Chile)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Anglo American Chile Ltda. (Anglo American Chile)
-
Anglo American Chile Ltda., the local subsidiary of multinational resource group Anglo American plc, is one of the largest mining companies in the country. As an integrated copp...
- Company: Metso Outotec Chile S.A. (Metso Outotec Chile)
-
Metso Chile S.A. is the Chilean subsidiary of multinational Finnish company Metso Oyj. It supplies services and solutions mainly to the mining, pulp & paper and recycling indust...
- Company: ReliX Water S.A. (ReliX Water)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Codelco - División Chuquicamata (Codelco-Chuquicamata)
-
Chilean state copper producer Codelco's Chuquicamata division used to be the world's largest red metal operation, producing close to 1Mt/y of fine copper. Codelco is currently d...
- Company: Sociedad Punta del Cobre S.A. (Pucobre)
-
Chilean miner Sociedad Punta del Cobre S.A. (Pucobre) is engaged in copper mining properties in Chile's northern Atacama region (III). Its assets include the San José copper con...
- Company: Haldeman Mining Company S.A. (Haldeman Mining Company (HMC))
-
Haldeman Mining operates the La Cascada mine and plant, located 120 km from Iquique in the Tarapacá region of northern Chile. It produces copper cathodes mainly destined for Eur...
Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.
