Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Chile’s copper production decreased by 0.8pc to 5.7mn mt in 2019, driven by lower production from Codelco, the world’s top copper producer, according to the latest data by the Chilean Copper Commission (Cochelco).


The commission noted that apart from Codelco, BHP Billiton’s Escondida and Anglo American Sur also produced lower volumes of copper during the year.


According to the data, Codelco produced 1.7mn mt of copper in 2019, down by 5.6pc compared to 1.8mn mt in the prior year period. 


The copper miner’s Andina mine’s output decreased by 12.9pc to 170,300mt while output from its El Salvador mine decreased by 16.8pc to 50,600mt. Codelco’s El Teniente mine, which is the world’s biggest underground copper mine and the sixth-largest by reserve size, recorded production of 459,700mt, down by 1.1pc during the same period.


In 2019, copper production from the Chuquicamata, Radomiro Tomic, and Ministro Hales mines decreased by 5.3pc to 803,500mt compared to the prior year.


The volumes from BHP Billiton’s Escondida mine also dropped by 4.4pc to 1.1mn mt in 2019, compared to the prior year. Production at the Anglo American Sur mine also fell by 7.8pc to 389,200mt, according to Cochilco’s data.


Chile’s copper production is expected to reach 5.87mn tonnes this year, while production for 2021 is expected to rise by 0.7pc to 5.91mn tonnes compared to 2020, Cochilco noted.

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