Soaring demand for copper will help drive mergers, BHP CEO says
Demand for copper, a key element in the energy transition, is set to rise by 70% to 100% by 2050, Mike Henry said
Production at Chile’s largest copper mines was uneven in September, dragged down by weak performance from state-run miner Codelco, the Chilean Copper Commission (Cochilco) said on Monday.
Codelco’s production slipped 5.3% year-over-year in the monthto 116,700 metric tons, Cochilco said. Meanwhile, the BHP-controlled Escondida mine saw production jump 25.5%, with the Collahuasi mine run by Glencore and Anglo American inching up 1.3%.
Codelco, the world’s largest miner of the red metal, has struggled with operational issues and high debt, with its production falling to a 25-year low last year.
Overall production in Chile increased 2.2% in September to bring in 444,000 tons of copper, Cochilco said.
(By Fabian Cambero and Kylie Madry; Editing by Brendan O’Boyle)
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