Codelco plans to revise Andina expansion; profit tumbles 30%

Codelco, the world's No 1 copper producer, said on Friday it was reworking a plan to expand its key Andina mine in the wake of a falling copper price and protests about the project's possible impact on the environment. The up-to-$7.5-billion expansion of Andina, located in the Andes mountains near the capital Santiago and close to the Argentine border, is one of the 'structural projects' that the state-run producer is relying on to keep its production flowing as output falls at its older mines.