Production in the second-quarter of the year jumped 6.1% to 163,200 tonnes, as higher output at its Centinela and Antucoya mines mitigated declines at Los Pelambres and Zaldívar.
Chile Mining News
The ongoing trade war between the United States and China has forced the Chilean Copper Commission (Cochilco) to revise downwards its average copper price prediction by $0.06 per pound to $3.
Labor negotiations at Chile's Escondida copper mine, the world's largest, are frozen without signs of progress.
A union representing workers at Lumina Copper's Caserones mine in Chile said on Thursday that contract negotiations with the company had failed, paving the way for a potential strike.
The possibility of a strike was talked about over the weekend.
A common target for the thieves is Antofagasta Plc’s logistics unit Grupo FCAB, which owns and operates about 700 kilometers of railway lines used to transport cathode and semi-processed copper.
Thieves leap from trucks onto trains as they roll through Chile’s Atacama Desert, before throwing 80-kilo slabs of copper to the ground and disappearing.
Chile-focused miner said proceeds from the sale would enable it to focus on its core activity of producing copper.
Labor talks at Escondida are in the final stretch before a 30-month contract expires at the end of July.
Foreign direct investment in Chile hit $8.48 billion from January to April, its highest level since records began 15 years ago, thanks to a new law designed to attract investment, the government investment agency said on Wednesday.
The Chilean government said Salar Blanco could apply for a special operating license for its Maricunga project.
Shipments of the key ingredient for making batteries that power electric cars and high tech devices climbed 47% in 2017 to $684.2 million.
Zaldívar signed a new power plant supply agreement with Colbún to produce copper with 100% renewable energy.
Labor negotiations are entering into the final three weeks before a 30-month contract expires at the end of July.
Mantos Copper bought the Mantos Blancos and Mantoverde copper mines from Anglo for $300 million plus $200 million in conditional future payments.
From the 32 contracts set to expire in 2018 at Chilean mines, there still are more than a dozen to be negotiated before year-end.
The figure, though significant, is minor when taken in the context of Codelco’s $18 billion investment plan aimed at upgrading its aging mines and dealing with dwindling ore grades.
A German battery plant could help ease an expected negative impact in the workforce employed by the local automotive industry.
Copper bears drop price 11% in 3 weeks, but new report shows labour contracts still up for renewal threaten 3 million tonnes of production just in Chile.
Disruption to copper's supply chain has taken place at the refined metal segment of the chain, distorting trade flows but not directly removing units from the supply-demand balance.
The miner, which has set an exploration objective of adding one million gold equivalent ounces to Cerro Moro's mineral inventory, has hiked its exploration budget for 2018 to $11.2 million from $9 million.
Workers are threatening to walk off the job soon to protest plans to transform the century-old open pit into an underground mine.
Strong demand growth will be largely focused on high-grade lithium, according to research firm Roskill.
Workers are pushing off further negotiations until later this year when their contracts expire.
Ponce has held power at SQM since it was privatized under Pinochet in the 1980s and is still the largest shareholder.