Codelco, the world’s largest copper producer, reported a pre-tax profit of $790 million in 2024, a significant improvement from a $757 million loss in 2023. The total production for the year reached 1.328 million metric tons.
Codelco, Chile’s state-owned mining company and the largest copper producer globally, announced its turnaround to profitability for the fiscal year 2024. The company reported a pre-tax profit of $790 million, contrasting with a loss of $757 million recorded in the previous year. Furthermore, Codelco’s total copper output reached 1.328 million metric tons during this period, demonstrating a significant rebound in its operational performance.
Codelco’s transition from a substantial loss to a notable profit in 2024 illustrates its recovery and operational success in the competitive copper market. With a production output of 1.328 million metric tons, the state-owned enterprise shows resilience and potential for future growth.
Original Source: money.usnews.com
