CODELCO has more than US$ 16.039 billion in assets, and in 2009, its equity totaled US$ 5.309 billion. In 2009, CODELCO produced 1.78 million metric tons of refined copper (including its interest in El Abra mine). This figure is equivalent to 11 per cent of the world copper production. Its key commercial product is Grade A copper cathodes. CODELCO has an ambitious investment plan for the next five years evaluated in US$ 15 thousand million. Only in 2011 the company was planning to invest approximately US$ 3.000 million. The Company also has ownership interests in several important mining companies, such as in Minera Gaby S.A., where it holds 100 per cent, and El Abra, with a 49 per cent stake; and other mining partnerships in geological operations both in Chile and abroad. The delegation was addressed by the Chief Executive Officer (CEO) of Codelco. The delegation was informed that Chile contributes to one third of the world's copper production and Codelco produces one third of Chilean copper. The remaining two thirds is produced by private mining companies. That means Codelco competes with private companies in copper production. Chile is a mining country as mining production comprises more than 10 percent of the national GDP. The major portion of copper that is produced by Codelco is exported to China. Codelco's contribution to national treasury is more than 10 percent of the national budget.