Top copper supplier Chile posts best monthly output of this year
Chilean copper mines delivered their best month this year as the top-producing country recovers from operational and project setbacks that took output to 20-year lows.
The nation that accounts for about a quarter of the world’s mined copper registered a 7.1% increase in August compared with the same month last year, according to data released Monday by Chile’s statistics bureau. It was the biggest haul since December.
Production is starting to recover in Chile as state-owned behemoth Codelco overcomes disruptions at mines and delays at development projects. BHP Group’s giant Escondida operation is also tapping richer ore and the revamped Quebrada Blanca mine is ramping up.
That’s welcome news for a still tight market for copper concentrate — the raw material used to feed smelters.