Chile’s industrial production in February 2021 fell by 3.4pc as compared to the same month in the prior year (Feb 2020), dragged down by the negative performance of the three sectors composing it, including the mining sector, according to the country’s the National Institute of Statistics (INE).
The decline in industrial production in February was influenced by a contraction in the mining, electricity, gas, and water, and manufacturing sectors.
In February, Chile’s mining sector fell by 6.2pc, while the electricity, gas, and water sector decreased by 4.4pc from the same month in the preceding year.
The country’s manufacturing sector in February 2021 declined by 0.6pc as compared to Feb 2020.
In the mining sector, metallic mining fell 6.4pc due to the decrease in the extraction and processing of copper.
The country copper output in February stood at 430,100mt, down by 4.8pc as compared to the year before.
INE said that that decline in copper production is a result of falling ore grades that has become a common problem at Chile’s sprawling but aging mines. Copper contributed 50pc to the country’s total exports.