Antofagasta CEO: Global Copper Output to Fall By Two Million Tonnes or More

In an interview with Metalbulletin (subscription), Antofagasta (LSE:ANTO) CEO Ivan Arriagada has said that he expects the global copper market to be balanced next year.
As quoted in the publication:

With copper prices regularly revisiting their six-year lows over the past few weeks, more small-sized copper miners in Chile, China, as well as in the USA are facing increasing pressure to cut production. “We are facing every year lower grades [of mined copper], and also we have production cuts. I think at current prices, there are two million tonnes or more of production whose cost is above or equal to the [selling] price,” the head of Chile’s second-largest copper producer said.

Click here to access the full article from Metalbulletin.