Chile delivers biggest copper output this year in tight market
me-metals: Chile posted its best month of copper production this year as the world’s largest supplier of the metal delivers some relief to tight global markets.
According to me-metals cited from mining.com, The country that accounts for about a quarter of the world’s mined copper churned out 486,574 metric tons in May, up 9.4% from the same month last year, according to data released Monday by statistics bureau INE.
Chile’s biggest monthly haul since December comes as mines recover from a series of operational setbacks and declining ore quality that sent production to 20-year lows. The recovery may help ease a squeeze on stocks at the London Metal Exchange as traders move metal to the US to front-run tariffs proposed by the White House.
Codelco and Antofagasta Plc are among mining companies looking to grow production.
source: mining.com
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