Codelco sees war disruptions adding 5% to cost of making copper | Metals Mine

  • Codelco sees war disruptions adding 5% to cost of making copper

    From miningweekly.com

    Top copper supplier Codelco expects disruptions from the Middle East war to lift its production costs by about 5%, offering one of the first quantified inflation estimates from a major mining company. Higher diesel prices, more expensive supplies and the Chilean government’s proposed suspension of a fuel tax credit would together add roughly 10 cents per pound to Codelco’s cash costs, CFO Alejandro Sanhueza told reporters in Santiago on Friday. Currently, the cost stands at about $2 a pound. “We are closely monitoring this situation,” Sanhueza said during an earnings presentation. “We haven’t yet been ... (full story)

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