Codelco production rises as new mines boost output

viernes 29 de mayo de 2015 10:42 GYT

SANTIAGO May 29 (Reuters) - World no.1 copper producer Codelco increased output in the first quarter of 2015 compared to a year ago, although a slide in the copper price eroded profits.

Codelco produced 394,000 tonnes of copper from its fully owned projects in the first quarter, up 3 percent on 2014, boosted by new projects like Ministro Hales.

But profits at the state-run firm fell over 40 percent to $312 million, with a recent sharp fall in the copper price mitigated in part by lower costs. (Reporting by Anthony Esposito, Writing by Rosalba O'Brien; Editing by Chizu Nomiyama)