🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Chile first quarter copper production drops slightly from year ago

Published 11/05/2016, 12:37 am
Updated 11/05/2016, 12:40 am
© Reuters.  Chile first quarter copper production drops slightly from year ago
BHP
-
AAL
-
BHPB
-
ANTO
-
HG
-
GLEN
-

May 10 (Reuters) - Copper production at Chile's large mines dropped 3.0 percent in annual terms in the first quarter of 2016, held back by the temporary closure of a plant at BHP Billiton's BLT.L BHP.AX Escondida mine, government statistics showed late Monday.

Production at Escondida plummeted 23.5 percent to 265,600 tonnes, as the company shut a concentrator there in February. The plant is scheduled to be shut for a year, as the company undergoes an ambitious investment plan to boost efficiency. at world number one copper producer Codelco COBRE.UL , meanwhile, rose 8.4 percent to 469,800 tonnes, helped by an ongoing ramp-up at the Ministro Hales deposit and high production figures at the Salvador mine, according to Chile's Cochilco copper commission.

The Collahuasi mine, operated jointly by Anglo American Plc AAL.L and Glencore Plc GLEN.L , produced 116,100 tonnes, a 11.1 boost from 2015. And Antofagasta Mineral's ANTO.L flagship Los Pelambres mine produced 85,100 tonnes, a 4.4 percent increase.

In April, Cochilco estimated that Chile 2016 copper production would reach 5.77 million tonnes, a marginal increase from 2015. Copper prices, meanwhile, are expected to average $2.15 per pound in 2016, according to the government body.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.