Chile’s Codelco expects $2.8 bn profit this year

Chilean copper company Codelco should increase its profits to $2.8 billion this year thanks to improved productivity and good prices, although the company does not expect to receive capital from the government, its top executive told local media. The president of the firm’s board of directors, Juan Benavides, said that cost containment continues to be a main focus. Last year’s profit at the state-run company was about $2.1 billion, before taxes and extraordinary items.

Source: Nasdaq