Chile’s biggest copper windfall in years signals higher output

Chilean copper mines had their best month of export revenue in more than three years in June, with the increase in value outstripping price gains in a sign of rising production.

The country that accounts for about a quarter of the world’s mined copper shipped $4.7 billion worth of the metal last month, the biggest haul since December of 2021, according to data released by the Chilean central bank on Monday. That’s 17% more than the same month last year, signaling that at least part of the increase was the result of higher volume given prices rose 11% on average over the same period. Chile is yet to report June production.

In May, Chile had its best month of copper output this year, delivering some relief to a tight global market, as mines recover from operational setbacks and declining ore quality that had sent production to 20-year lows.

(By James Attwood)

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