June 29, 2018 / 3:02 PM / 18 days ago

Chile announces $1 bln in capitalization for state miner Codelco

SANTIAGO, June 29 (Reuters) - Chile’s government will inject state-owned copper miner Codelco with $1 billion in “extraordinary” capitalization as an additional boost to the company’s ambitious plans to overhaul its aging mines, Finance Minister Felipe Larrain said on Friday.

Codelco, the world’s top copper miner, returns all of its profits to the state and is funded by a mix of capitalization and debt. (Reporting by Dave Sherwood Editing by Chizu Nomiyama)

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