Chile Copper production advances 13.5% y/y during Jan-May: Cochilco
PERU (Scrap Register): Chile, the world’s biggest copper producer, has produced 2.36 million tons of Copper during January to May of this year, an increase of 13.5 percent as compared to last year, according to Chilean copper commission Cochilco.
Chillean copper production advanced during January to May mainly due to higher production Codelco and Escondida.
State-owned Codelco copper production climbed by 2.4 percent year-on-year to 681,000 tons during the first five months of this year.
Escondida, controlled by BHP, has doubled its year-on-year copper production to 545,600 tons between January and May.
However, Chilean copper production during the month of May has marked the best monthly figures so far this year. The country has produced 494,500 tons of copper in May, an increase of 6.1 percent as compared to last year.
Chilean Minister of Economy Jose Ramon Valente said Wednesday that the current trade disputes between the United States and several other nations could weigh on global growth and cause a drop in copper price.
Chile has roughly accounting for a third of the total global exports. Income from the copper industry is a major contributor to Chile's national economy.