Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list

Copper giant Codelco buys back bonds to ease financial burden: company

Energy | Natural Gas | Natural Gas (European) | Oil | Crude Oil | Metals | Steel | Petrochemicals | Shipping | Tankers

Market Movers Europe, Aug 19: Global uncertainty taints European oil and gas; steel battles for survival

Marine Fuels

Platts Bunkerwire

Commodities | Metals | Non-Ferrous

Battery Metals, 2nd Annual


Tensión comercial entre EE.UU. y China

Copper giant Codelco buys back bonds to ease financial burden: company

Santiago, Chile — Chile's Codelco has bought back $1.526 billion worth of bonds to ease its financial commitments over the next five years as it focuses on major investments to overhaul its aging mine operations, the company said Monday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Aided by investment banks Citigroup Global Markets, HSBC Securities, J.P. Morgan Securities and Scotia Capital, the state-owned mining company took two weeks to acquire the bonds in New York, which are due for repayment between 2020 and 2025, using funds raised through the issue of a new 30-year bond.

"This transaction - the second largest of its type ever undertaken by Codelco - will reduce its financial burden in the coming years, facilitating the materialization of its investment portfolio," the company said.

Codelco plans to invest more than $30 billion through 2027 as it seeks to extend the life of its copper mines, some of which have been in continuous operation for more than a century.

This year should see the start of production from a new underground mine under its giant Chuquicamata pit, which will soon be too deep to mine profitably. Work on a new mine level at its El Teniente, extending the life of the operation by 60 years, is due for completion in 2025.

"Very similar to the transaction we undertook in 2017, this operation reflects responsible financial management and the confidence of investors in the corporation and its development projects," CFO Alejandro Rivera said.

-- Tom Azzopardi,

-- Edited by Jennifer Pedrick,

Nonferrous Metals Ambassador

Platts metals market reports feature global news, analysis, daily pricing and commentaries for major nonferrous metals, ferroalloys and steel products. Click the link below for more information; fill out the contact form and a member of Platts staff will be in touch.

Contact Us