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
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