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| CODELCO |
Codelco's Flat Performance in October
Chile's state-run mining giant, Codelco, reported no growth in copper production for October, maintaining its output at 127,900 metric tonnes, as per Cochilco data. This marks a continuation of the company's year-to-date production decline of 4.5%, with a total of 1.115 million tonnes produced so far.
BHP Drives National Growth
In contrast, BHP's Escondida mine, the world's largest copper mine, reported a substantial 22% production increase, reaching 108,000 tonnes in October. This surge contributed to Chile’s overall copper production rising by 6.35% year-over-year to 488,900 tonnes.
Divergent Trends in Chile's Copper Sector
The disparity in production trends between Codelco and BHP underscores varying operational efficiencies and geological conditions, highlighting the complex dynamics of Chile's copper industry.
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