Output at BHP Billiton PLC’s Escondida mine fell 8.4pc between January and September 2019, compared to the same nine-month period in 2018.
The decline at the Chilean mine—the largest copper mine in the world—is attributable to lower prices and declining production. It produced 870,970mt of copper through the first nine months of the year, of which 689,210mt is in concentrates and 181,760mt in copper cathodes.
Sales revenue between January and September of 2019 reached $5.09mn, down 12pc from the same nine-month period last year. Net income totaled $1.06mn through the first nine months of this year, down 20pc compared to same time in 2018.
BHP operates and owns 57.5pc of the mine, Rio Tinto owns 30pc, and the Japanese firms JECO Corporation and JECO 2 own 10pc and 2.5pc, respectively.
Escondida, located in the Atacama Desert in northern Chile, is a copper porphyry deposit that also produces gold and silver.
Escondida’s two pits feed three concentrator plants, as well as two leaching operations.