Chilean think-tank says Codelco pays more taxes but extracts less copper than private companies

Chile's mininster says the underlying trend of rising demand remains intact despite hard-to-read daily market gyrations.

The mine is the sixth largest copper producer in Peru.

“In the medium term, as renewable energy and electro-mobility agendas accelerate, the demand for copper will go up, and that is the most permanent trend,” says Chile’s Energy and Mining Minister.

Shareholders will vote on the new board in an assembly on April 30.

Chile plans to begin a competitive process within a month to award $50 million in subsidies.

Of the union affiliates, 98.5% voted to reject the offer on a new contract for the next 36 months.

Shares of major miners also fell in London trading, with BHP down 2.4%, Rio Tinto down 3.6%, Glencore -2.44%, and Antofagasta -1.25%.

Surging copper shipments helped boost overall exports 41% to $7.071 billion in February.

Andean nation expects to hit a record copper output of 2.5 million tonnes in 2021.