Codelco says making progress on key projects, following output hit

Chile’s state-owned copper giant Codelco has reached a production ‘turning point’ and is now making progress on its key projects, following a hit in production, the firm said in a statement in response to a recent ratings downgrade by Fitch.

Ratings agency Fitch downgraded Codelco’s credit rating by one notch to BBB+ from A-, according to a statement published on Wednesday.