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 new insight or understanding did you gain from this video?