Chile Mines Unharmed after Recent Quake

Reuters reported that most Chilean mines seem to have held up well against a recent 8.2 magnitude earthquake in the mineral rich region. No damage was reported to the Collahuasi copper mine while Coldeco, Antofagasta and Teck Resources all said that their mines were functioning well. However, Reuters also noted that Collahuasi evacuated some workers to be with their families, and that it was unclear whether the quake may have caused damage to ports. LME copper prices rose to a three week high after the tremors.

Morgan Stanley analyst Joel Crane commented:

I would expect the largest danger is to infrastructure, namely ports and roads, which could obviously affect exports.

Click here to read the full Reuters article.