off-the-wire

Codelco lowers production outlook, posts pre-tax profit dip

Kitco Media
By Reuters
Published:
Updated:
Reuters
Codelco lowers production outlook, posts pre-tax profit dip teaser image

Chile’s Codelco, the world’s largest copper producer, on Friday posted a pre-tax profit of $429 million for the first half of 2025, down 34% from the $653 million reported in the same period last year.

The state-owned miner said its own output totaled 634,000 metric tons, up 9% from the same period last year.

It also lowered its 2025 production guidance to 1.34-1.37 million tons of copper, from a March estimate of 1.37-1.40 million tons.

(By Fabian Cambero, Daina Beth Solomon and Sarah Morland)

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