Villarzu Extols Privatization

Juan Villarzu, president of Chile’s state-owned copper company Codelco, said the company would benefit from privatization. Villarzu said Codelco needs to make larger investments to meet growing global demand for copper, and it would be better able to make those investments as a private company. CODELCO is considering raising its production from 2.5 million tons of copper per year to 3 million in 2020 to meet increasing demand, especially from China.