the American companies of Anaconda Copper and Kennecott copper in Chile. It is 100% owned by the the people of Chile who receive benefits from the income generated by copper. One of the mines they nationalized was one that I grew up in. When I was living there I never thought it would have been possible to get the entrenched American and British interests out of there, but it happened so there is hope.
What is Codelco?
Codelco is the Corporación Nacional del Cobre de Chile
What is its importance?
Codelco is the main copper producer in the world. Also, it is one of the largest companies in Chile.
Who is its owner?
The Corporación Nacional del Cobre is 100% property of the Chilean State. All Chileans own it.
Why was it created?
The constitutional reform that nationalized copper, of july 11, 1970, established the transference to the State of all the big mining properties, which made necessary to create a company capable of exploting and managing them.
When was it founded?
The Law Decree Nº 1,350 of april 1st of 1976 created Codelco, a mining, industrial and commercial State company.
How is it organized?
Codelco has its Head Office in Santiago, Chile. The exploitation, processing and shipment operations are carried out by its Divisions: Codelco Norte Division (fusion of former Chuquicamata and Radomiro Tomic Divisions), Salvador Division, El Teniente Division and Andina Division.
Codelco also participates in mining, non mining and business associations with other companies and it has a network of subsidiaries and sale agents backing up its commercialization activities.
Who work at Codelco?
More than 18 thousand workers collaborate with Codelco.
Who directs the company?
Codelco has a Board of Directors which seven members are nominated by the President of Chile.
In turn, the Board nominates the Executive President which leads a senior staff formed by Senior Vicepresidents and ExecutiveVicepresidents.
What are its aims?
The Corporation has a strategy based on a vision of future, which implies displaying all of its business potential both in Chile and abroad to maintain its position of leader in the copper industry.
What are its products?
The main product of Codelco is refined copper in the form of cathodes which are 99.99% pure copper. The Corporation also produces copper concentrates, blister or anode copper and subproducts such as molybdenum, anodic slimes and sulphuric acid.
In Germany, Codelco also manufactures wire rod, a semimanufactured product that uses copper cathodes as raw material.
How much does it produce?
In 2007, copper production by Codelco reached 1.664.600 metric tons of fine copper (includes Codelco's share of El Abra). It also produced 27.857 metric tons of molybdenum, the main subproduct of the Corporation.
Does it have future reserves?
Codelco has some 77 million metric tons in copper reserves. These are the largest in the world. However, the Corporation has a permanent surveying activity to identify new possibilities of mining business both in Chile and abroad.
Who are its clients?
Codelco´s policy has been aimed at giving priority to refined copper sales to fabricators or producers of semimanufactured products. The Corporation views its clients as strategic partners.
What are its markets?
Copper leaves Chile for clients around the world. The main market is Asia (48%), followed by Europe (31%), Northamerica (13%) and Southamerica (8%) according to 2007 data.
How much copper does it sell?
In 2007 the physical sales of copper reached 1,665 million metric tons, own production.
What is the income from sales?
In 2007 the total income from sales of copper and subproducts reached 16,988 million dollars.
What is copper?
Copper is a metallic element found in nature. Its chemical symbol is "Cu" and its atomic number is 29.
Where is it exploited?
10,000 years ago, when man was leaving the the Stone Age, the exploitation of copper began. Since then it has been present throughout the development of civilization.
What is the importance of copper?
Copper has important properties for the development of societies: high electrical and heat conductivity, resistance to corrosion, durability, it can be recycled and, due to its attractive colour, has been used by craftmen and artists for thousands of years.
Also, health research has established that copper is essential fur all living organisms. We all need a daily dose of this element which, in the case of humans, we obtain through the food we eat.
Does copper have a future?
The development of new technologies ensures an increasingly efficient and sustainable production of copper. This makes possible to gain access to mineral deposits that could not be exploited before, while at the same time complying with the requirements of a society increasingly concerned with the environmental and social conditions of the planet. Beyond the increasing consumption of copper associated to progress and growth, this element has important application in new technologies that will play important roles in our future.
What is molybdenum?
Molybdenum is obtained from sulfide ores during the separation of copper. It is a metallic element required in the international markets since it is used for special steel alloys and other alloys with special properties of durability, strength and resistance to heat and corrosion. Codelco is one of the world´s main producers of molybdenum.
How do I contact Codelco?
To contact Codelco you may use the following postal address:
Web site :
http://www.codelco.com/ Copper production and income before taxes since 1990?
YEAR 2007
COPPER PRODUCTION
(Thousands of metric tons) 1,665
INCOME BEFORE TAXES 8.451
(US$ million)
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