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SANTIAGO, Sept 26 - Chile's Codelco, the world's largest copper producer, will meet its financial obligations despite headwinds from a series of operational problems and from high levels of debt and investments, JPMorgan said on Tuesday.
The company cut its production estimate for this year to between 1.31 billion and 1.35 billion metric tons of the red metal. JPMorgan estimates that Chile's government will likely provide support to Codelco, which gives all its profits to the state, through direct capital injections or by a continued reduction in upstream dividends so that the company can make investments, if necessary.
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