Chile Copper Output Hit Highest Level in 4 Years

SEATTLE (Scrap Monster): The latest monthly copper production statistics published by government statistics agency INE states that Chile’s copper production in November this year hit highest level in at least four years.

According to INE statistics, Chile produced 540,720 mt of copper in Nov ’18, surging higher by nearly 7% from the same month a year before. When compared with Oct ’18, the production was up by almost 9%. The increased throughput and higher ore grades at leading copper mines in the country led to the production jump. The combined copper output during the initial eleven-month period of the year recorded over 6% year-on-year jump to total around 5.339 million mt. Chile’s copper output had totaled just above 5 million mt in Jan-Nov ’17. Going by the current trend, the annual copper production by Chile is likely to surpass Chilean Copper Commission’s earlier forecast of 5.762 million mt in 2018.

The copper output from Escondida mine skyrocketed by 47% over the previous year to total 1.047 million mt during the first ten months of the current year. The restart of El Soldado mine lifted production from Sur copper mining complex by 18% year-on-year to 346,500 mt.

Meantime, Zambia- another major copper producer too reported increased production during the first ten months of 2018. The country produced a total of 696,526 tonnes of copper between January and October in 2018, higher by 6% when compared with the production of 654,743 tonnes in Jan-Oct ’17. The country’s annual copper production in 2018 is set to surpass 2017 production levels.