Copper output from Codelco climbs 17% in June

Copper production from Chilean State-run miner Codelco ticked up 17% year-over-year in June, data from copper commission Cochilco showed on Monday, climbing to 120,200 tonnes.

Codelco is the world’s largest miner of the red metal.

Meanwhile production at BHP’s Escondida mine, the world’s largest copper mine, slid 33% to 76,400 tonnes.

At Collahuasi, another major copper mine jointly run by Glencore and Anglo American, output fell 29% to 34,300 tonnes.

Restart at key mine

Codelco has also resumed operations at El Teniente a week after Chile’s deadliest mining accident in decades. Eight underground areas and the smelter have reopened, while four sections remain closed pending investigation.

A return to work gives Codelco a major boost as it looks to recover from a years-long slump in production. El Teniente is the world’s largest underground copper mine and a key part of the company’s operations. Last year, it produced 356,000 metric tons of the metal.

According to Codelco, the areas still closed include new parts of the deposit that are crucial for production in the years ahead.

Chile’s Public Prosecutor’s Office said last week that inspections had shown damage to 3,700 meters (12,000 feet) of tunnel, which is about five times more than initial calculations given by Codelco.

Also on Monday, Codelco announced the departure of El Teniente boss Andrés Music, who will be replaced on an interim basis by operations manager Claudio Sougarret.

(With files from Reuters and Bloomberg)