https://www.miningweekly.com
Copper|Mining|PROJECT|Projects
Copper|Mining|PROJECT|Projects
copper|mining|project|projects

Codelco caps worst year in quarter century with copper production drop

15th January 2024

By: Bloomberg

  

Font size: - +

Codelco indicated copper output declined last quarter from a year earlier, as the world’s biggest producer of the red metal strives to recover from mining mishaps and project delays.

Production for the last three months of the year was 358 000 metric tons, compared with about 384 000 tons in the fourth quarter of 2022. That’s based on calculations using full-year output disclosed by the Chilean state-owned behemoth in a session of a lower-house commission this week. Codelco is scheduled to report its official results for last year in March.

Production is running at the lowest level in a quarter century following a series of setbacks at projects and mines that exacerbated the impact of declining ore quality after decades of underinvestment.

New CEO Ruben Alvarado is looking to gradually boost output from this year. The presentation delivered by finance director Olivar Hernández on Monday shows production at 1.324-million tons last year, 1.352-million tons this year, 1.522-million next year and getting back above 1.7-million by 2030.

Edited by Bloomberg

Comments

 

Showroom

SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.065 0.102s - 93pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: