Chile is forecasted to increase its copper mine production by 1.8pc this year compared to the volume extracted in 2020, according to projections of the Chilean Copper Commission (Cochilco) in its quarterly report.
This increase means that country’s mines will produce 5.8mn mt of copper, compared to 5.7mn mt extracted in 2020, the report published in early June indicated.
The commission also expects local production to grow 2.4pc by 2022 to 5.9mn mt compared to this year.
Cochilco has estimated global copper production to be 2pc higher in 2021 than last year, at 21mn mt from 20.6mn mt. Similarly, 2022 output will exceed this year’s production by 4.7pc, to 22mn mt.