Chilean state mining company Codelco is targeting production volume at 1.391 million metric tons in 2025, Reuters said with a reference to an official document.
According to an unpublished government decree approving its 2025 budget, the world's largest copper producer has also authorized investments in the period of around $4.727 billion in an attempt to lift its copper output from 25-year lows.
In calculating its budget, Codelco forecast a copper price of $4.30 per pound and expects a cash cost of $1.98 per pound, the document showed. It expects operating revenue of $22.23 billion, leading to a pre-tax net profit of $3.105 billion, Reuters added.
Meanwhile, copper output in Chile had increased 14.3% year-on-year in December last year to 566,547 metric tons.
Theodor Lisovoy, Managing Editor, Rough&Polished
