March 23, 2020 / 5:10 PM / 17 days ago

Chilean miner Codelco says copper price fall puts projects "at risk"

SANTIAGO, March 23 (Reuters) - Chilean copper miner Codelco said on Monday that the drop in copper price put “at risk” some of its projects.

The miner, the world’s largest of the red metal, said in a letter sent to workers that the significant decline “casts doubt on our ability to generate resources and also questions the viability of some of the projects that we have been vigorously promoting until now.”

Codelco is conducting a string of upgrades on its mines around the country to maintain output despite rapidly falling ore grades.

Reporting by Fabian Cambero; writing by Aislinn Laing

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