MTECHTIPS;-Copper Output Drops 2.5% In First Nine Months Of This Year

MTECHTIPS;-Copper Output Drops 2.5% In First Nine Months Of This Year

MTECHTIPS-Copper mining major Codec’s copper output dropped in Jan-Sep this year while its profits boosted following higher prices. Codec’s mined copper production edged lower in the first nine months of 2017 due to declining ore grades, but the miner’s profits rose significantly during the period, benefiting from higher prices for the metal. The Chilean state-owned miner produced 1.24 million tonnes of copper in the January-to-September period, 2.5% less than in the corresponding period of 2016, chief executive officer Nelson Pizarro said on Thursday November 23, according to media reports. The figure accounts only for production from Codec’s wholly owned divisions and is in line with the company’s target for the period

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