- Chile’s state copper miner Codelco says it is postponing $2.25B in investments aimed at maintaining production levels as it struggles with low copper prices.
- The world’s biggest copper producer seeks to develop six projects at aging mines to prevent a slump in copper output due to declining ore grades; its original proposal called for investments of $25B, but it was later cut back to ~$20B and now will total $18B.
- The company has laid off workers as part of cost cuts as it posted a $97M loss in this year's H1, during which it produced 843K tons of copper.
- ETFs: JJC, CPER, CUPM