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UPDATE 1-Chile April copper export revenue ebbs to $3.583 bln

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Mon May 7, 2012 10:04am EDT

* Chile April copper export revenue down 8 pct yr/yr
    * Copper roughly 60 pct of exports in Chile

 (Adds details on Chile production, prices, background)	
    SANTIAGO, May 7 (Reuters) - Chilean copper export revenue
 slipped 8 percent to $3.583 billion in April
compared with a year ago, when it was boosted by high prices,
and fell 1.1 percent from the previous month, the central bank
said on Monday.	
    April marks the first month copper export revenue decreased
month-on-month in the world's top copper producer since the
start of the year.	
     London Metal Exchange (LME) three-month copper fell
0.5 percent in April, according to Thomson Reuters data,
receding after the red metal's prices rose 11 percent in the
first quarter of the year.	
 	
    Chile, which provides about one-third of the world's copper,
produced 423,064 tonnes of it in March, up 6.9
percent compared with February but down 2.6 percent from a year
earlier on disruptions in operations and smelting.
 	
    The lynchpin mining industry has been hit by diminishing ore
grades in its ageing northern mines, bouts of extreme weather,
labor stoppages triggered by high metal prices and lingering
hurdles to energy supply. 	
    The country produced 5.24 million tonnes of the red metal in
2011, or 3.2 percent less than in 2010, according to the
government statistics agency INE.	
    Copper accounts for roughly 60 percent of the Andean
country's export revenue and 20 percent of its GDP. 	
	
 (Reporting by Moises Avila and Anthony Esposito. Writing by
Alexandra Ulmer;editing by Sofina Mirza-Reid)
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