Codelco production rises as new mines boost output
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)
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