Copper production fell to 153,800 tonnes from 171,900 tonnes, due mostly to lower grades at the company's Centinela and Los Pelambres mines.
Chile Mining News
Mina Justa, which is expected to require investment of around $1.6 billion, is due to begin construction in the second half of 2018.
The union accepted an offer to begin early negotiations with the Anglo-Australian miner in March to avoid another strike at the northern Chile mine.
The announcement is the last of a string of difficulties Anglo has faced with the iron ore mine, which was expected to produce 16 million tonnes this year, but that will now generate just 3 million tonnes.
Along with Argentina and Chile, Bolivia is part of South America's so-called "lithium triangle."
SQM, which operates primarily in Chile's Salar de Atacama, is one of the world's largest and most cost-efficient producers of lithium.
Chilean copper commission Cochilco forecast on Friday that Chile would produce 5.76 million tonnes of the red metal in 2018.
The South American nation hopes to sign a deal with a foreign partner after a decade of state-led development left output far short of goals for the metal.
The Codelco-owned site is prone to mud rush caused by ice melting on the Andes range situated on the surface, a hazard that closed the exploration area for months on end. This combined with the company’s plan to expand operations to the seventh and eighth levels made it crucial to find a solution that would allow them to mine mud ore safely.
"There is a legitimate concern on the side of the vehicle manufacturers."
When it comes to new lithium mine supply how soon is now?
Held every two years, Expomin will take place April 23-27, 2018 at the Espacio Riesco Convention Center in Santiago, Chile.
The Mining Committee of the Lower Chamber met with Codelco executives, employees, and other stakeholders.
Canada's largest diversified miner Teck Resources is amping up its corporate social responsibility game.
Increasing disposable income in emerging economies and the adoption of greener technologies, are the two factors to drive most of the expected increased demand in copper during the next five years.
Salares Norte production to begin around 2021 and quickly achieve target output of 345,000 ounces of gold a year.
Copper production will peak in the second half of 2019, making a growing supply deficit much more real.
Once these projects are completed, Mantos Copper expects its production to nearly double to 165,000 tonnes annually.
Collahuasi, owned by Anglo American Plc and Glencore Plc, is located in northern Chile and is among the world's largest copper mines.
Authorities may consider potential revisions to the mining laws in order to make companies that already own concessions to work on them or else give them up.
One of the main problems, says the head of Chile’s Mining Society, Diego Hernández, is miners have no incentives to do anything with the assets they already own and is very cheap to keep them.
Relations between the world’s largest copper producer, Codelco, and unions in its Chuquicamata division have reached the lowest point in years.
While appetite for copper-mining assets is picking up, a supply crunch is imminent, experts say.
All that can be said with confidence is that, for the next few years, both supply and demand will grow strongly.
Caserones said in a statement the rest of the mine remained in operation.