It comes after, earlier this year, production fell to its lowest monthly output for six years.
“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 demand is forecast to increase by more than 100% by 2035, from current production of 25 million metric tons (MMt) to 50MMt. This will continue to grow to 53MMT by 2050.
Stay subscribed for our upcoming report on copper.