Codelco copper slump underscores global mine supply challenges
From miningweekly.com
Codelco, the world’s biggest copper supplier, saw production fall 9.3% last quarter from a year prior, the latest example of supply-side challenges for metal markets. The results delivered Friday by Chile’s state producer reflect a disappointing year of output for a nation that accounts for about a quarter of the world’s mine supply. On the same day, the South American country’s copper commission projected a 3.4% annual drop in domestic production amid declining ore quality, water restrictions and union protests.Mines globally are grappling with logistical challenges exposed by the pandemic and exacerbated by ...
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