Codelco, Chile’s state-owned copper mining giant, reported a pre-tax profit of $790 million for 2024, reversing a $757 million loss from the prior year. The company achieved an output of 1.328 million metric tons, showcasing its production strength.

Codelco, the largest copper producer globally, announced a remarkable turnaround in its financial performance for 2024. The company reported a pre-tax profit of $790 million, in stark contrast to a loss of $757 million from the previous year. This substantial profit marks a significant recovery for the state-owned miner in a challenging economic landscape. Furthermore, Codelco’s output reached 1.328 million metric tons, underscoring its production capabilities despite market volatilities.

In summary, Codelco’s shift from a previous loss to a substantial profit of $790 million illustrates its resilience and operational effectiveness in the copper industry. The increase in output to 1.328 million metric tons further emphasizes the company’s ability to adapt to market challenges successfully.

Original Source: money.usnews.com