Escondida’s Profit Increases

Chilean private copper mining company Minera Escondida posted a net profit of $453 million for the first quarter, up 3% year-on-year. The company’s operating profit rose to $565 million and revenues increased to $823 million from $794 million a year earlier. Escondida, like Chile’s state-owned copper company Codelco, has benefited from strong copper demand in China and the United States.