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Chile's Codelco to keep 100% of profits for first time in over 50 years
Chile's state-owned mining giant Codelco will retain 100% of its profits for the first time in more than half a century, reversing a decades-long arrangement of transferring earnings to the government. The company is struggling financially despite record global copper prices, signalling a deep operational crisis. Codelco has historically been a key pillar of Chile's public finances, funding the military among other things.
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