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INDUSTRY NEWS
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Chilean national copper companies cut their second-quarter copper production estimates
Release date: 2017-08-15 16:35:24 Number of visits: 713
SAN FRANCISCO (MarketWatch) - Copper production in the second quarter is expected to decrease by 1% or 2% from a year earlier, according to Nelson Pizarro, chief executive of Codelco, the world''s second-largest copper producer.
"Copper production is slightly lower than last year," Pizarro said.
Codelco''s copper production in the second quarter was only 400,000 tonnes.
The first quarter of this year Codelco copper production fell 11%, due to ore grade decline.
Recently free port Freeport-McMoRan Inc replaced Codelco''s world-leading copper producer. Codelco is betting $ 18 billion on investment plans to change fate.
Pizarro said: "I am becoming more and more optimistic." He pointed to earlier this week, copper prices rose to a two-year high, due to demand is stable and tight supply.
"Copper production is slightly lower than last year," Pizarro said.
Codelco''s copper production in the second quarter was only 400,000 tonnes.
The first quarter of this year Codelco copper production fell 11%, due to ore grade decline.
Recently free port Freeport-McMoRan Inc replaced Codelco''s world-leading copper producer. Codelco is betting $ 18 billion on investment plans to change fate.
Pizarro said: "I am becoming more and more optimistic." He pointed to earlier this week, copper prices rose to a two-year high, due to demand is stable and tight supply.