Chilean authorities have left without money, Codelco

Chilean government will not send miners Codelco proceeds from planned sales of minority stakes in four state companies that are engaged in municipal water supplies, reports Dow Jones. Originally expected from the sale of 1.6 billion dollars were to be sent to the financial support of the Chilean medeproizvoditelya, oil and gas company Enap and construction work to rebuild the destroyed infrastructure of the February earthquake. As is known, Codelco plans to invest up to $ 15 billion over the next five years, and in 2011 it needed $ 3 billion Codelco - the largest national producer of copper and molybdenum in Chile. Specializes in the production of refined copper cathodes. The company has four mining units located in the northern and central parts of the country. In January-September 2010, the company increased its pretax profit more than doubled over the same period last year, to 4.13 billion dollars Ministry of Industry