Codelco output rises but lower copper price eats into profit

Codelco, the world's No 1 copper producer, on Friday reported a rise in its first-half production, largely due to the contribution of a new mine, but a slide in the market price of copper metal eroded profits. The Chilean state-run company said it produced 788 000 t of copper in the January to June period, a 4% rise from 2013.