Pacheco was responding to a report last month from copper studies center CESCO that said if production promises are not met, high levels of debt could lead to insolvency.
It is not appropriate for us to say that Codelco is a company that has financial problems or balance sheet problems, Pacheco said. In a year when production fell and we are behind schedule with projects, Codelcos EBITDA will exceed $5 billion.
Beset by operational problems and delays in its key upgrade projects, Codelco reported its lowest levels of production in a quarter century in 2022. In July, the company lowered its production estimate for this year to 1.31-1.35 million metric tons of copper, down from 1.35-1.45 million previously forecast.
Meanwhile, its debt ha…
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