- Write by:
-
Thursday, October 1, 2020 - 3:57:18 PM
-
604 Visit
-
Print
Mining News Pro - Copper output from the world’s top ten producers declined by 3.7% year-on-year collectively during the second quarter of 2020, according to GlobalData, a UK-based data analytics and consulting company.
“Lower ore grades at BHP’s Pampa Norte (Spence and Cerro Colorado mines), Antofagasta‘s Centinela Concentrates and lower rates at KGHM’s Robinson and Franke mines were key factors behind the declines in the other major producers output during the second quarter,” says GlobalData senior mining analyst Vinneth Bajaj.
Major operating mines that were closed as a result of the pandemic for significant periods in Q2 include Chuquicamata, Cobre Panama, Antamina, Las Bambas and Cerro Verde. Development work was also halted at the Los Pelambres and El Teniente mines.
Overall copper production is forecast to drop by 1.5% this year to 20.3Mt, with steeper declines in Chile and Peru, GlobalData says.
While Chile was initially relatively unaffected at the start of the quarter, with Codelco having just to halt on-site construction activities at Chuquicamata and El Teniente, rising cases led to mounting pressure from workers and the temporary shutdown of Chuquicamata at the end of June. As a result, production in Chile is expected to decline by 2.3% in 2020.
“Although operating activities in Peru resumed at the end of May, covid-19 restrictions have disrupted the momentum of several copper mines, including the Las Bambas, Constancia, Toromocho and Cerro Verde, with production in Peru set to decline by 7.2% in 2020,” Bajaj adds.
Short Link:
https://www.miningnews.ir/En/News/605676
Oxford Economics Australia has released data showing mine maintenance spending may be hitting its peak. But what does it ...
Copper climbed above $10,000 a ton as predictions for tighter global supplies and rising consumption in electric ...
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains ...
Copper output in Chile, the world’s largest producer of the metal, edged down in March, data from copper commission ...
Panama’s president-elect has ruled out talks with Canadian miner First Quantum Minerals until it drops multiple ...
Botswana President Mokgweetsi Masisi vowed to protect the country’s interests, including its 15% stake in diamond giant ...
Europe’s largest copper producer Aurubis AG reported first-half core profit above expectations on Wednesday, helped by ...
Copper briefly traded through $10,000 a ton as investors raised bets on Federal Reserve rate cuts, and Goldman Sachs ...
BHP’s plan to divest the South African assets of its target Anglo American are key to the strategy behind the proposed ...
No comments have been posted yet ...