Chile's Codelco delays $2.25 billion in investments on copper prices slump
Chile’s Codelco, the world's top copper miner, has once again made drastic changes to its ambitious five-year investment plan as falling copper prices continue to dry up the company’s earnings.
The state-owned miner, which faces what its chief executive Nelson Pizarro recently called its “worst crisis ever” since created in 1976, has decided to reduce its investment budget by $2.25 billion, local news site El Pulso reports (in Spanish)..
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