Chile’s mining production falls 9.2% in May, due to lower copper activity

The mining production of Chile, the world’s largest producer of copperfell 9.2% in May over the same month last year, due to lower extraction and processing of the red metal, according to official data.

The National Institute of Statistics (INE) reported on Friday that the monthly drop is a consequence of “a decrease in the extraction and processing of copper”, motivated by “less treatment and lower ore grade (or quality of copper in the rock)”.

On the contrary, non-metallic mining grew during the month “due to increased production of lithium carbonate”.

With an annual production of 5.3 million tons in 2022, equivalent to 26% of the global supply, Chile is the world’s leading copper producer.

The state-owned Codelco and giants such as the Anglo-Australian BHP and the British Anglo American operate in the country.

Copper production represents about 13% of the country’s GDP.

As for lithium, a key metal for the manufacture of electric vehicle batteries, Chili it is its second world producer behind Australia.

In late April, President Gabriel Boric announced the National Lithium Strategy as the world seeks to move away from fossil fuels in the face of the climate crisis.

last year the lithium it represented 3% of Chile’s GDP and was the second product that contributed the most to the economy after copper derivatives.

Source: AFP