Chile’s Codelco lowers 2022 copper production outlook

2022.08.26 17:05

FILE PHOTO: A train loaded with copper cathodes travels along a rail line inside the Chuquicamata copper mine, which is owned by Chile’s state-run copper producer Codelco, near Calama city, Chile, April 1, 2011. REUTERS/Ivan Alvarado//File Photo

SANTIAGO (Reuters) – Chilean state-owned miner Codelco lowered its copper production outlook for 2022 to a range between 1.49 million and 1.51 million tonnes, citing lower recovery levels at some of its mines and ore grades at the Chuquicamata site.

Codelco, the world’s largest producer of the red metal, previously expected to produce 1.61 million tonnes this year. The guidance cut was disclosed in a letter to Chile’s regulator late on Thursday.

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