Heavy rains shut down copper mines in Chile

Operations at two of the world's largest copper mines have been suspended following a weekend deluge in central Chile.

Bloomberg reported on Sunday that Codelco's El Teniente underground mine put a halt to mining activities after the Cachapoal River broke its banks.

“Service restoration work to resume production is estimated to take at least three days, equivalent to 5,000 metric tons of copper production,” Codelco said in a statement Saturday. “The company’s other operations continue to run normally.”

El Teniente is the world's largest underground copper operation and the sixth biggest copper mine by reserves.

Anglo American's (LON:AAL) Los Bronces open-pit mine was also affected. The company has suspended operations at the mine located in the Andes above Santiago due to safety reasons, while continuing to process stockpiled ore, London-based Anglo told Bloomberg.

Meanwhile the extreme weather has also resulted in one death and seven people missing, according to Onemi, the state emergency agency. Over 48 hours, about 180 millimeters inundated Santiago's financial and commercial districts, suspended classes, and muddied water sources, cutting supply to about a million people, said TVN, the state television station.