https://www.engineeringnews.co.za
Copper|Energy|Gold|Mining|Projects|Refinery
Copper|Energy|Gold|Mining|Projects|Refinery
copper|energy|gold|mining|projects|refinery

Top copper-producing nation Chile sees mining costs jump 29%

Codelco's Chuquicamata mine

Codelco's Chuquicamata mine

29th August 2023

By: Bloomberg

  

Font size: - +

If copper mining is any indication, there’s still plenty of work to do to bring down inflation.

Cash costs at mines in Chile, the top-producing copper nation, jumped 29% in the first three months of the year compared with the same period of 2022, according to a report released Monday by government agency Cochilco.

Inflationary pressure is coming from lower ore quality, which means more rock has to be crushed to extract the same amount of metal. Other factors include pricier wages, energy and refinery fees. The cost increases would have been more severe if not for higher receivables from the sale of molybdenum and gold as byproducts.

While some of those factors have changed since the first quarter, two key cost drivers — lower ore grades and disruptions to production and projects — have continued, particularly at state behemoth Codelco.

Edited by Bloomberg

Comments

Array

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
26th April 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.073 0.134s - 158pq - 2rq
Subscribe Now