Chile's Codelco to Invest $15 Billion in Projects in Next Five Years

CORDOBA, ARGENTINA--April 12, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--Last week, Codelco (Santiago, Chile), the world's biggest copper producer, announced intentions to invest $15 billion in the next five years to develop new projects. According to the company, the goal is to secure the company's future production until 2040. "This amounts to about $3 billion in investments per year in each of the next five years," Jose Pablo Arellano, Codelco's chief executive, said at the recently-held World Copper Conference in Santiago. The challenge will be to use the investments to take full advantage of the enormous world copper demand, led primarily by emerging economies.