UPDATE 1-Chile's Codelco cuts 2003 copper sales

Newswire

(Updates with reactions, detail) By Louise Egan SANTIAGO, Chile, Nov 29 (Reuters) - Chile's Codelco, the world's No. 1 copper producer, said on Friday it will cut foreign copper sales by 200,000 tonnes in 2003 -- but not production -- to reduce high world inventories that sparked this year's price decline. The 200,000 tonnes will be kept as inventories in Chile, said Codelco, the first major producer since the mid-1980s to announce it will carry inventories of its own. Codelco's ...

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