Chile’s mining exports by value increased by 6.2pc to $31.3bn between January-October from $29.5bn shipped in the same period last year.
Of the total shipments, 90pc, or $28.3bn worth of export material consisted of copper, Chilean Minister of Mining, Baldo Prokurica, said in a statement on Nov 15 without disclosing volume.
Iron ore exports by value also increased by 97pc to $1.1bn between January-October from $585mn during the same prior-year period.
On the other hand, exports of molybdenum concentrate fell by 16.5pc to $217mn in the first 10 months of the year from $260mn in January-October 2019.
In October alone, mining exports by value increased by 24.5pc to $3.2bn, Prokurica said without disclosing figures from 2019.
Chile’s copper production is expected to fall by 1.2pc to 5.71mn mt in 2020, from 5.78mn mt in 2019, according to the Chilean Copper Commission (Cochilco).
Chile’s copper prices are expected to end 2020 at $2.62/lb, 23¢/lb lower than the guidance announced in January, due to the uncertainties in the market produced by the COVID-19 pandemic.
Copper prices reached $3.19/lb on Tuesday, November 17, down by 0.89pc compared to the prior day, according to Cochilco data.