Codelco Reports Profit in 2024 After Previous Year’s Loss

Codelco reported a pre-tax profit of $790 million for 2024, a notable recovery from a loss of $757 million the previous year, with a production output of 1.328 million metric tons of copper.

Codelco, the largest copper producer globally, announced significant financial improvement in 2024, achieving a pre-tax profit of $790 million. This marks a remarkable turnaround from a loss of $757 million recorded in the prior year. The state-owned mining company reported production levels reaching 1.328 million metric tons of copper, reflecting its operational resilience and efficiency amidst fluctuating market conditions.

In summary, Codelco has demonstrated substantial progress in its financial performance for 2024, transitioning from a loss to a notable profit while maintaining robust production figures. This positive shift underscores the company’s capacity to adapt and thrive in a competitive industry.

Original Source: money.usnews.com