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Codelco reports higher Jan,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych]
SANTIAGO,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], Chile (AP) - Chile state-owned mining company Codelco said Thursday its January-September profits rose 27 percent over the same period last year,[link widoczny dla zalogowanych], boosted through the settlement of the long-running feud with British miner Anglo American Plc over control of a promising copper mine.
The planet largest copper company said Thursday it earned $6,[link widoczny dla zalogowanych].77 billion before taxes versus $5,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych].32 billion in the same period a year ago,[link widoczny dla zalogowanych].
Leader Thomas Keller told reporters the miner produced 1.188 million metric a lot of copper,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], 5 percent under the 1.25 million metric tons last year because of dwindling ore grades.
Codelco is involved with ambitious domestic expansion plans,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], for example turning the planet largest open-pit copper mine into an underground operation that would extend its life by a lot more than Half a century. Codelco says Chuquicamata continues to have much more to give,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], with reserves comparable to about 60 % of all the copper exploited within the mine history still buried deep beneath the crater.
Codelco and Anglo American settled their conflict in August with a multi-billion dollar deal,[link widoczny dla zalogowanych]. The Chilean miner had sued to enforce a choice to purchase 49 percent of the Anglo American Sur subsidiary with financing from Mitsui Co,http://www.luntacunt.fora.pl/genre,1/papillon-blue-bridal-spun1,3853.html#3893,[link widoczny dla zalogowanych]. after Anglo American sold a fourth of its Chile subsidiary to Mitsubishi Corp. instead,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych].
The settlement leaves Anglo American having a controlling 51 percent stake,[link widoczny dla zalogowanych], Codelco with 24.5 percent,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], Mitsubishi with 19.5 percent and Mitsui with 5 percent. The deal helped Codelco increase its holdings at a discount,[link widoczny dla zalogowanych], and both Japanese companies now have a company foothold in Chile.. |
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