Codelco increases Q3 production, cut costs despite Covid-led closures

Chile's state-run copper producer Codelco increased its production in the third quarter of 2020 despite setbacks due to temporary closures of some of its operations, reduced costs and higher earnings during that period, the company said on Friday October 30.

Codelco produced 447,000 tonnes of copper in the quarter, including a minority share in some units, up by 1.6% from 440,000 tonnes in the third quarter of 2019.
Over the first nine months of 2020, output hit 1.24 million tonnes, a 2.8% year-on-year increase from 1.21 million tonnes.

Efforts to curb the Covid-19 spread led to temporary halts of El Teniente, Chuquicamata and some construction projects in the Antofagasta region...

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