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

Posted on October 21, 2016 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

#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.