The wet season in the austral summer has caused havoc in northern Chile.
Codelco Mining News
Codelco has halted operations at its Chuquicamata and Ministro Hales copper mines; Freeport-McMoRan suspended El Abra.
Last year, Chile's total copper production rose by 6 percent to 5.83 million tonnes.
SNC-Lavalin Group Inc. won’t reveal the location of a “serious problem” in its mining business that fueled an epic share rout on Monday.
Sixty-five engineers from 15 countries came up with ideas.
"We rejected their proposal and have voted to strike"
Robert Mayne-Nicholls has worked in companies such as Codelco, Antofagasta and Barrick Gold.
Production of the red metal, the agency says, could reach a record of 7.25 million tonnes as early as 2025.
World's No. 1 copper producer says mine operating normally despite labour unrest.
The deal, approved by 91.7 percent of the union, also included 1.1 percent salary increases, Codelco said.
The Vancouver-based miner submitted an application to expand to 300,000 hectares its land position at the Firminho project.
The 36-month contract was approved by 53% of the union.
Mine output fell 3 percent in the first nine months of the year as ore grades sharply declined, leading to a 12 percent drop in pretax profit.
Copper output in Chile, the world’s top producer of the metal, is expected to increase 4% in 2019 and continue to grow steadily during 2019 due to stronger performance from major mines, upgrades to existing operations, and lower risk of labour strikes.
Codelco reported declines across all of its mines in September as ore grades fell an average of 5% in the first nine months of the year.
Ecuador is being hailed as the biggest potential new source of supply of the metal used in renewable energy.
The Rajo Inca project would convert the existing asset, which has been in operation since 1959 and is due to run out of ore in 2021, to an open pit mine from an underground one.
World warehouse stocks are dropping, down 50% since the first of April.
The copper market is currently experiencing a squeeze on physical metal which is unexpected.
Chile's Codelco is in the midst of upgrading its smelter at Chuquicamata, its second largest operation by size, to comply with stricter emissions standards coming in effect in December.
Chinese copper demand has been so strong in the past few months that top producer Codelco has almost sold out of supplies for next year, well ahead of schedule.
Chuquicamata, the company’s second largest copper operation by size, is expected to transition to underground block cave mining by mid-2019.
More than 80 unionized workers of the Plantas de Andina union went on strike a week ago.
Four of the five labor unions representing workers at the El Teniente copper mine in Chile have accepted the latest contract offer from state mining company Codelco.
The $4.9 billion-investment is part of Codelco’s 10-year, $39 billion overhaul of its core mines.