Codelco sees copper demand driven by BRIC nations

SHANGHAI Aug 5 (Reuters) - Chile's Codelco [CODEL.UL], the world's largest copper producer, said on Thursday that it was optimistic about copper demand and prices in the medium to long term.

"Copper demand will continue to grow," said Diego Hernandez, chief executive of Codelco, adding that he expected development in the emerging BRIC countries, or Brazil, Russia, India and China, to boost demand for the industrial metal.

The world was seeing a period of increasing copper demand, mainly driven by China, the world's top copper consumer, Hernandez said during a presentation to clients. (Reporting by Rujun Shen and Jacqueline Wong)