А теперь объясните мне, с какой такой стати русская нефтедобывающая промышленность должна принадлежать вот этим шакалам?
UPDT: А вот и секрет чилийских успехов: высокие цены на медь.
UPDATE 1-Chile's Codelco says 2004 revenue more than doubles
Wed Mar 16, 2005 12:21 PM ET
(Recasts; adds company background)
SANTIAGO, Chile, March 16 (Reuters) - Chile's state-owned copper miner Codelco, the world's biggest copper producer, on Wednesday said its 2004 revenue more than doubled from 2003 due to multiyear-high prices on international metals markets.
Codelco's revenue last year totaled $8.2 billion, compared with $3.8 billion a year earlier, the company said at a news conference.
The miner's copper output jumped 10 percent in 2004 to 1.84 million tonnes, compared with 1.67 million tonnes in 2003. The company sees 2005 production similar to that of a year ago, Codelco Chief Financial Officer Francisco Tomic told reporters.
"We believe that the price of copper could run around 130 cents per pound. This would be a very good scenario for Codelco and its subproducts," Tomic said.
"But there's also reason for caution, since it is probable that in the second part of the year there will be a slight deceleration and it is likely that right now we're not seeing the actual price," he added.
Earlier this month Codelco raised its outlook for average copper prices to a range of $1.20 to $1.30 per lb from a previous forecast of $1.30 per lb, but said in the next several months the price could fluctuate in the $1.40 to $1.50 range.
Copper is Chile's top export and the backbone of the economy. According to official estimates, every additional penny in the annual average per pound copper price adds an estimated $35 million to the South American nation's economy.
Codelco said its average cash cost during 2004 was 31.7 cents per lb, compared with 42.7 cents per lb a year earlier.
Codelco also said it will soon issue $200 million worth of bonds on local markets to help finance the purchase of the Ventanas smelter and refinery. Tomic did not put an exact date on the issue.
Earlier this month Codelco's board of directors approved a total issue of $400 million in bonds for the refinery purchase, on foreign or domestic markets.
Codelco, which operates five mines in Chile as well as smelters and refineries, is also purchasing Ventanas from Enami, another state-owned copper company.
Ventanas, which produces 330,000 tonnes of copper cathodes a year, will help Codelco to increase production to meet heavy demand from markets in Asia. Enami plans to use money from the sale to pay down its debt.
Codelco expects to expand its production to 2.2 million tonnes of copper by 2010 with much of the additional output going to China.
China's voracious demand for copper helped the Chilean economy to expand 5.9 percent in 2004, its most robust pace of growth in seven years. It also helped the government end the year with a 2.2 percent fiscal surplus.