Bloomberg News | November 29, 2024 |
Copper anode molding. (Image by Codelco, Flickr).
Chile registered its biggest month of copper production this year, and the best October since before the pandemic, as the biggest supplier of the wiring metal recovers from project setbacks.
Mines including those operated by Codelco and BHP Group churned out 492,804 metric tons in October, according to data released Friday by Chile’s bureau of statistics. That’s 6.7% higher than the same month last year and the most productive October since 2019.
Production in Chile is on the rise after slumping to 20-year lows as companies undertake multibillion-dollar projects to revamp aging operations and combat deteriorating ore quality. State-owned Codelco said it exceeded its own monthly production goal in October, consolidating a recovery that began in August.
(By James Attwood)
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