Codelco aims for upper end of copper output range, plans return to bond market, CEO says

Fabian Cambero

Tue, Apr 8, 2025, 9:08 AM 1 min read

By Fabian Cambero

SANTIAGO (Reuters) - The CEO of Chile's Codelco, Ruben Alvarado, said connected Tuesday that the state-run copper shaper aims to bring output to the precocious extremity of its estimated scope this year, expecting to scope 1.39 cardinal metric tons.

Alvarado said the world's largest copper shaper plans to instrumentality to the enslaved marketplace but is evaluating the timing.

"We cognize we inactive person to spell to market. We'll surely beryllium there, but we inactive person to determine when," helium told Reuters connected the sidelines astatine the CRU/CESCO World Copper Conference.

"Our enslaved prices are precise attractive. We instrumentality large attraction with our concern grade, truthful we judge we inactive person the country to determination guardant with financing our projects."

In 2024, Codelco managed to boost accumulation aft hitting 25-year lows successful 2023 owed to delays successful cardinal projects and operational issues, which it has been resolving.

Alvarado said helium expects to summation show aft having a amended archetypal 4th than past year.

"This year, we're preparing to spell for importantly more," helium said, adding the anticipation is 1.39 cardinal tons.

"We're focused connected doing things right, ensuring operational continuity and being peculiarly cautious with information issues," helium added.

Alvarado besides noted that the institution is inactive evaluating whether to nonstop caller spot copper shipments to the U.S., arsenic it did successful the archetypal 4th erstwhile customers were trying to get up of expected U.S. tariffs connected imports.

"What has motivated america to summation shipments to the United States has to bash chiefly with gathering the needs of our semipermanent customers," helium said.

(Reporting by Fabian Andres Cambero; Editing by Alexander Villegas and David Gregorio)