Copper mining costs in Chile fall in first half-year, reversing trend

Direct production costs at Chile’s large copper mines fell in the first half of the year, the state-run Chilean Copper Commission (Cochilco) said on Thursday, marking a reversal of the upward trend of recent years.

The agency said in a report that the reduction was due to a fall in treatment and refining costs, as well as an increase in gold and silver prices during the period, by 39% and 26%, respectively. The price of copper on the London Metal Exchange also rose 15.4% during the first half of 2025.

The cash cost for the world’s largest producer of the red metal fell to $1,767 per pound, from $1,912 in the first half of 2024, it said.

The state commission measured 21 copper mining operations representing about 94% of the country’s mining production.

(By Fabián Andrés Cambero and Leila Miller; Editing by Edmund Klamann)