VOICED : Chile capitalizara Codelco con 975 millones de dolares

The Chilean government announced a plan to capitalize the state-owned mining company Codelco with $975 million to address its debt, which was incurred to comply with a law requiring 10% of its sales to be transferred to the Armed Forces. The government will provide $500 million from public funds, with the remainder coming from a proposed law for 2016 and 2017 to return some funds to Codelco. The drop in copper prices and the reserved law have increased Codelco's debt. Codelco, which produces about 11% of the world's copper, contributes all its profits to the Chilean treasury. The copper price fell by 17% due to China's economic slowdown, affecting Chile's main export product.

What is the primary reason for the Chilean government's decision to capitalize Codelco?

• To increase copper production

• To reduce Codelco's debt from a legal obligation

• To expand Codelco's mining operations

• To invest in new technology

How much money will the Chilean government provide from public funds for Codelco's capitalization?

• $475 million

• $975 million

• $500 million

• $1 billion

What is the purpose of the proposed law for 2016 and 2017 regarding Codelco?

• To reduce copper prices

• To privatize Codelco

• To return some funds to Codelco

• To increase copper exports

What percentage of the world's copper is produced by Codelco?

• 15%

• 20%

• 11%

• 5%

What was the main reason for the 17% drop in copper prices?

• Increased global copper production

• Economic slowdown in China

• New mining technologies

• Decreased demand in Europe