Chilean copper output expected to rise 22.6 pct in coming decade
Source: Xinhua | 2020-12-31
Copper production in Chile is expected to rise 22.6 percent towards the end of the 2020-2031 period, compared to the real production of 2019, the Chilean Copper Commission (Cochilco) said on Tuesday.
According to an outlook report issued by Cochilco's Directorate of Studies and Public Policies, the country will achieve a copper production of 7.095 million tons by 2031 at an average growth rate of 1.7 percent, and the production will peak at 7.35 million tons in 2028.
"It should be noted that this update shows a certain displacement in expected production, influenced by the impact of the pandemic on current operations and on the development of projects," the report said.
The important finding is that by 2031, the current operations will decrease their fine copper output to 3.99 million tons, down by 31 percent compared to 2019, it said.
"This demonstrates the national copper mining sector's need for new projects," Cochilco said.
Chile is the world's leading producer of copper, which is the linchpin of the country's economic growth and fiscal policies.
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