The state miner reported that it had surpluses of US $ 3,675 million in the first semester.

The state mining company Codelco reported this Friday that it recorded surpluses of US $ 3,675 million in the first half, a figure almost 10 times higher than that recorded in the same period last year, and which also represented the highest level in the last decade.

The result was favored by the increase in the price of copper and an increase in production.

In effect, the mining company’s fine copper production totaled 796 thousand tons, 7% higher than that registered in the first six months of 2020.

In this regard, the president of the Codelco board of directors, Juan Benavides, highlighted that “production even exceeded our goal of 755 thousand tons.”

He also indicated that “Codelco is transforming itself to be more competitive and deliver surpluses to the country for the next 50 years; for this reason, it is not enough that we start up new fields, as we are doing, but an administration of excellence is essential ”.

The increase was due to an increase in the level of processing at Radomiro Tomic and El Teniente, coupled with better ore grade at Ministro Hales, he added.

Benavides also highlighted that the increase in production was achieved despite the operational complexities resulting from the Covid-19 pandemic.

Meanwhile, the executive president of the mining company, Octavio Araneda, explained that “the price of copper was, without a doubt, a factor that positively influenced the results, but so did the increase in production, costs lower than those budgeted, the higher sales of our main product and the better performance of the subsidiaries ”.