CODELCO’s Copper Output Dipped Substantially in 2022

SEATTLE (Scrap Monster): Codelco- the state-run Chilean copper producer announced reduced output during the previous year. The company’s production for 2022 was estimated at around 1.446 million tonnes, nearly 10% lower than the prior year production of 1.618 million tonnes.

RELATED NEWS:

The Copper Shortage is Getting Real

CODELCO Announced Short Term Optimization Strategy

Speaking at an event organized by the College of Engineers and the trade association Voces Mineras, Maximo Pacheco, president of the Codelco board of directors said that the country has been stuck at a copper production of 5.4 million for almost two decades. It is a challenging task for Codelco to maintain its production levels, amidst various headwinds, he noted.

The previous year saw several Codelco mines registering a number of high-profile accidents, with some resulting in fatalities. This had forced the company to suspend operations at mines for a prolonged period. The company reiterated its commitment to improve safety at mines, so as to avoid occurrence of such incidents in future.

Pacheco noted that the $1.4 billion Rajo Inca project is being revised. The project is running 16 months behind schedule and is now slated for H1 2024 production start. The drill samples from the Maricunga salt flats had very positive results, he added.