Brazil’s Gerdau buys out Sumitomo Corp and JSW in Gerdau Summit
The transaction is expected to close in early 2025.
Chile registered its lowest month of copper production in more than a year, undermining the top-producing nation’s recovery from its first annual decline in two decades.
Mines in Chile produced 6.7% less of the wiring metal in April than in March and 1.5% less than the same month last year, according to data released Friday by the bureau of statistics.
To be sure, the monthly results depend on mining schedules and can be volatile. But the underwhelming start to the second quarter suggests mines continue to grapple with low ore quality and operational setbacks.
Codelco’s Radomiro Tomic mine was still undergoing a gradual restart after a fatal accident in March.
(By James Attwood and Dominic Carey)
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