TABJ Sep 6 - The world’s number one copper producer, Codelco, will cut 3000 jobs by the end of the year. The Chilean company will offer 15 per cent of its workers early retirement in order to boost efficiency.

CEO Diego Hernandez said to the newspaper La Tercera, "We have a special situation compared to our mining competition.”

He said that 21 per cent of workers were on sick leave or chronically ill and the average age of staffers was 48.

"That clearly affects productivity ... That means Codelco can't definitely count on a fifth of its workforce. We are talking about offering (retirement) to 10-15 per cent of Codelco's workforce."