- Write by:
-
Tuesday, March 10, 2020 - 10:58:48 AM
-
649 Visit
-
Print
Mining News Pro - Chile’s Codelco, the world’s top copper producer, saw output fall once again in January to 118,600 tonnes, a 6.8% drop when compared to the same month in 2019, amid a perfect storm of falling ore grades at the largest deposits, water scarcity and social unrest.
According to Mining News Pro - The country had reported a drop in overall production last year, with the state-owned miner churning out 1.7 million tonnes of the red metal, the lowest level since 2008, when it generated only 1.55 million tonnes.
At that time, the giant Ministro Hales mine, which contributes between 180,000 and 200,000 tonnes of copper a year, had not yet begun operations.
According to the country’s copper agency Cochilco, private mines fare better. BHP’s Escondida, the world’s largest copper mine, produced 10% more last month (100,900 tonnes) than in the same month last year.
Collahuasi, another massive mine owned jointly by Anglo American and Glencore, also registered a jump in production — 20.2%, to 53,500 tonnes, Cochilco said.
In terms of revenue coming from copper exports, Chile saw them decline 2.3% in February due to weak demand from its main buyer China and violent protests over inequality and social injustices.
Social unrest started in October and has resulted in billions in losses to private businesses and public infrastructure, as well as damage to Chile’s long-held image as the most stable and prosperous country in Latin America.
The nation’s copper exports were valued at $2.5 billion in February, Chile’s central bank said on Monday.
Short Link:
https://www.miningnews.ir/En/News/499697
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, ...
Anglo American faced calls from shareholders on Monday to detail plans for improving its value in order to fend off ...
Copper slipped after initially extending gains above $10,200 a ton as traders turned their attention to demand ...
Glencore expects profit at its trading division this year to be at the top end of its long-term annual guidance, in an ...
Top copper producer Codelco reported a decline in quarterly output due to lower quality ore at its aging Chilean mines — ...
When former boss Mark Cutifani left Anglo American Plc in mid-April 2022, things had rarely looked better for the ...
Chile President Gabriel Boric said on Thursday he is targeting an increase in the country’s annual copper output by 1 ...
Brazilian miner Vale SA sees no impact from BHP Group’s bid for Anglo American on the latter’s Minas-Rio project, its ...
Copper miner Antofagasta Plc is holding meetings with investors this week for its first dollar bond offering in nearly ...
No comments have been posted yet ...