UPDATE 1-Chile Nov copper output jumps 7.6 pct from year earlier

Mon Dec 30, 2013 7:25am EST

Related Topics

SANTIAGO Dec 30 (Reuters) - Chile produced 514,889 tonnes of copper in November, a 7.6 percent increase from the year before, due to a recovery in a major deposit that had a troubled 2012, the government said on Monday.

Chile, the No. 1 global copper producer which provides one- third of the world's copper, is struggling with dwindling ore grades in many of its aging deposits, although new mines have helped increase output in 2013.

"This production increase is chiefly explained by the recovery of productive levels in an important mine that operated irregularly during 2012," the INE statistics agency said in its report.

The massive Collahuasi mine has come back after a disastrous 2012, with production soaring 43 percent to 297,340 tonnes in the first nine months of this year.

Improved output at Escondida, the largest copper mine in the world, also bolstered output.

Copper production in the January-to-November period increased 6.5 percent to roughly 5.3 million tonnes, the INE added. The government forecast that Chile would produce about 5.7 million tonnes of copper this year, an increase of almost 5 percent from last year and a historic high.

Copper output in November increased 1.4 percent from October.

To see the INE report, please click:

FILED UNDER: