Top #Copper Miner Gets Reprieve as #Chile Signals More Funding

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#Codelco’s prospect of remaining as the world’s biggest #Copper miner received a boost on Thursday as #Chile signaled it will increase funding for the state company to overhaul aging mines and head off a slump in output.

Chile is already investing a lot in Codelco and will have to provide “slightly more” as a law that gives 10 percent of its sales to the military drains reserves, Finance Minister Rodrigo Valdes said in an interview in #NewYork. A funding decision is scheduled for next month.

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