Struggling to lift output even with near-record prices, Chile's Codelco - the world's top copper...

|By:, SA News Editor

Struggling to lift output even with near-record prices, Chile's Codelco - the world's top copper producer (accounts for 1/3 of global supply) - was forced to buy the metal from outside sources to meet delivery contracts earlier this year. The purchases were small when measured against Codelco's total production, but imagine Saudi Arabia needing to buy crude to meet its deliveries.