Global Copper mine production advances 5.7 percent during Jan-May: ICSG
LONDON (Scrap Register): Global copper mine production is estimated to have increased by 5.7 percent during the first five months of 2018, with concentrate production rising by 5.5% and solvent extraction-electrowinning (SX-EW) by 6%, according to the latest data released by the International Copper Study Group (ICSG).
The increase in world mine production of about 450,000 t copper was mainly due to constrained output in the comparative period of 2017 namely in Chile and Indonesia.
Production in Chile, the world’s biggest copper mine producing country, increased by 13.5% primarily because productionin February/March 2017 was restricted bya strike at Escondida (the world’s biggest copper mine) and also because there was an improvement in Codelco’s production levels in 2018.
Indonesian output increased by 43% because comparative output in 2017 was negatively affected by a temporary ban onconcentrate exports that startedin January and ended in April.
A 12.5% increase in SX-EW production in the Democratic Republic of Congo (DRC) and a 13% rise in Zambian mine outputdue to the restart of temporarily closed capacity.
Although no major supply disruptions occurred in the first five months of this year, overall growth was partially offset by loweroutput at some mines in Canada (-8.5%) and in the United States (-10%).
After a strong increase in the last few years due to new andexpanded capacity, output in Peru (the world’s second largestcopper mine producing country) has levelled off.
On a regional basis, copper mine production is estimated to have increased by around 11% in Africa, 8.5% in Latin America, 6% inAsia, 3.5% in Europe and 10% in Oceania and declined by 7.5% in North America.