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For every cent the copper price drops codelco loses 36m and chile 50m, codelcos ceo nelson pizarro said earlier in the year.Pizarro, who took the helm of codelco in 2014, managed to increase production by 3.6 and reduce costs by nearly 7.8 per pound of copper in 2015, but despite this the company still reported net losses of 1.4bn for the year its worst figures since 1990.

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