Gold Silver Reports — Heavy rains have hit the copper output in Chile, the world’s top producer. Output in April has dropped as heavy rains hit some mines in the country’s central regions and ore grades are also declining, according to the Government.
Output in Chile’s copper mines decreased 8.2 per cent from the previous year to 432,277 tonnes in April, as per the data by INE statistics agency. Output from January through April declined 4.7 percent from a year earlier to 1.83 million tonnes.
Chile produces one-third of the world’s copper. The ore grades in the country’s deposits are declining amid the cost cutting measures implemented by companies to contain a sharp drop in metal prices. — Neal Bhai Reports