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Copper
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copper

Copper supply gets a boost as Chile shows signs of recovery

Teck's Quebrada Blanca mine, in Chile

Teck's Quebrada Blanca mine, in Chile

1st July 2024

By: Bloomberg

  

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Copper production in Chile, the world’s biggest supplier of the wiring metal, is showing signs of recovering from 20-year lows.

Output in May was the highest this year, rising more than 8% compared with both April and the year earlier, according to data released Friday by the country’s bureau of statistics.

While top producer Codelco has indicated its output won’t begin to show year-on-year increases until the second half, other suppliers are picking up the slack after grappling with lower ore quality and operational setbacks. Authorities are looking for a 5% increase in country-wide copper output this year due to an expansion at the Quebrada Blanca mine and improvements at BHP’s Escondida.

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Edited by Bloomberg

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