Chilean National Mining Association: copper production in Chile increased by 7% to 5 million 900 thousand tons in 2018
Santiago October 24th news, Chile's National Mining Association (Sonami) said on Tuesday, 2018 Chilean copper production amounted to 5 million 900 thousand tons, representing an increase of 7% this year.
Chile is the world's largest producer of copper, and the world's largest copper strike weakens the country's copper production this year.
The mining association also warned that a new round of employment contract negotiations would prompt the adjustment of copper production forecasts in 2018 if a new strike in the mining industry was struck.
Sonami's forecast for copper production in 2018 is more optimistic than the estimated value of the national copper Council of Chile (Cochilco). Cochilco expects copper production to be 5 million 740 thousand tons next year in chile.
Sonami said in a study that BHP Billiton's Escondida copper mine had a 44 day strike this year, or would limit the annual copper production to 5 million 500 thousand tons.
The Association says the international copper price will be 2.90-3 dollars per pound next year.