Codelco’s Output Below Forecast

Chile’s Codelco, the world’s largest copper producer, has produced less than forecast so far this year, according to Mining Minister Alfonso Dulanto. Dulanto expects expansion at the company’s mines to help boost output in the months ahead to recover from the slow start. Codelco is planning to dramatically increase production over the next few years to take advantage of copper prices that are at a 14-year high. Global demand for the metal remains high, especially in China, the world’s biggest copper consumer.