Chile’s Copper Production Shows Signs of Recovery
Chile, the world’s largest supplier of copper, is showing signs of recovery from 20-year lows in production.
In May, copper output reached its highest level for the year, rising more than 8% compared to both April and the same month last year, according to data released on Friday by the country’s bureau of statistics.
While top producer Codelco has indicated its output won’t show year-on-year increases until the second half of the year, other suppliers are compensating for the decline.
They are overcoming challenges such as lower ore quality and operational setbacks. Authorities anticipate a 5% increase in national copper output this year, driven by the expansion at the Quebrada Blanca mine and improvements at BHP’s Escondida.
