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SANTIAGO (Scrap Monsters): The world’s biggest copper producer Chile’s production advanced by 4.3% year-on-year to 460,552 metric tons in September this year, but down 0.5% from August, as per latest data released by country's statistics institute INE. Chile produced 441,605 metric tons of copper in last September.

INE attributed the year-on-year increase to higher ore grades and a ramp-up in production from mines which began operating last year, such as Antofagasta Minerals' Esperanza mine, and an expansion at Anglo American's Los Bronces mine.

Production during the first nine months of the year was 3.982 million mt, up 4% from 3.828 million mt in the same period of 2011.

Production of molybdenum, key byproduct in the country’s copper mines, was 2,659 mt in September, down 6.2% from 2,835 mt a year ago. INE said this was due to lower grades of the minor metal.

During the nine months to September 30, molybdenum production totaled 23,365 mt, down 16.2% from 27,880 mt a year ago.