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Chile copper output falls to lowest in 6 years

Chile is the world’s largest copper producer, but production has fallen to its lowest monthly output for six years.

The state-owned Codelco — the largest copper company in the world — warns problems of water restrictions due to drought, operational delays, falling ore quality, as well as community concerns may worsen. The company sees output falling 7% this year, to between 1.35 million and 1.42 million metric tons at its wholly owned mines in 2023.

“It has been a complex year in terms of production, costs and surplus generation, which has challenged us to find ways to improve our future performance”

— Andre Sougarret, chief executive officer, Codelco
Copper mines are struggling in Chile - The Oregon Group - Investment Insights

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The Oregon Group

The Oregon Group

The Oregon Group is an investment research team founded by independent capital markets experts, Anthony Milewski and Justin Cochrane.

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