Tuesday , July 27 2021

Codelco executives review some projects to adjust investment | américaeconomí to

Santiago.- Chile's state minister miner Codelco is reviewing some of his projects to adjust his investments to tight cash, despite a positive expectation for global copper demand, and the company's president said this in an interview Sunday with a local newspaper. .

Juan Benavides told El Mercurio that the world's largest copper producer, Codelco, is expecting a deficit of US $ 500 million to $ 1,000 million a year by 2028.

"We are conducting a comprehensive review of all projects to see which one is less priority and can be delayed, so that capital investment for each year can be reduced to less than $ 4,000 million," Rehn said.

According to the executive, although the company's structural projects are not suspicious, it is "possible" to reduce capital investment to US $ 3,500 million annually.

The annual investment amount does not only correspond to structural projects, but also responds to et other components such as mining development, equipment and machinery renovation, sustainability issues Yıllık.

Benavides also said that the development of new mines, the changes in electromobility and the automotive industry, beyond the other factors, "world supply will not grow more than 1% per annum and 2%".

In an interview with Reuters in early October, Benavides said Codelco plans to issue US $ 1 billion in debt next year to help finance a $ 39 billion plan to renew its existing mines over the next decade.

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