SEATTLE (Scrap Monster): The latest production data released by the Chilean Copper Commission (Cochilco) suggests that state-owned Chilean giant copper miner Coldelco reported dip in production during the month of January this year.
According to Cochilco, the copper production by Codelco totalled 107,000 metric tons during January 2024, significantly lower by 16% over the same month a year before. The reduced output is mainly on account of unprecedented delays in execution of expansion projects and rising costs of operation.
The overall copper output by Chile remained more or less stable, edging higher marginally by 0.51% to 433,800 tons. The dip in output by Codelco was recompensed by gains in output elsewhere. For instance, the Escondida mine output recorded growth by 4.5% to 97,500 tons during the month. Also, the Collahuasi mine output registered notable jump in production by 22% to 52,200 tons.
Meantime, Peruvian mining output has been on a rising trend since early-2023. In January 2024, the country’s mining and hydrocarbons sector witnessed modest growth by 4%. According to the country’s Energy Ministry, the copper production is projected to reach 3 million metric tons in 2024, after hitting 2.76 million tons during the previous year, mainly driven by projected output growth at the Las Bambas mine.
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