Chilean miners will increase production as copper prices rise

Chile has no plans to reduce its copper output this year, according to recent statements made by Chilean state officials. The main reason for this decision is the ongoing rise of global prices copper prices pushed higher by the recovering Chinese demand. In addition, so far the pandemic has had a generally small impact on the country’s mining sector, particularly copper mining. Last week copper once again cleared the important $3 a pound level, and copper prices have a strong potential for even higher prices over the next several months. The rising copper price has created conditions for an increase in copper production in some major global producing countries, particularly Chile.

Source: Recourse World