BASE METALS

Weather, grade, civil unrest reduce Chile copper exports

Copper exports decline from Chile

This article is 5 years old. Images might not display.

Escondida produced 8.4% less copper in the first nine months of the year, falling to 870,400t from 950,900t in the prior year period as ore grades fell 5%.

Codelco saw its output fall 6.7% from 1.3 million tonnes to 1.2Mt. Codelco's operations in northern Chile were impacted by heavy rains in February and then a strike at Chuquicamata in June, as well as declining grade and problems at its refineries.

Antofagasta Minerals' Los Pelambres mine is the only large mine that saw a production increase, from 267,000t to 280,200t.

Lower output also saw Chile record its lowest value of copper exports in October since April 2017 as mines and ports were affected by civil protests and sympathy strikes by some mining unions at Escondida and Codelco, and a lower copper price environment. Chile exported US$2.515 billion of copper in October, 22% less than the $3.244 billion in October 2018, reported Chile's Central Bank.

Physical copper shipments were down 10.7% in the first nine months to 1.6Mt compared with 1.8Mt in 2018, according to state copper agency Cochilco.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.