Collahuasi Unlikely to Beat Last Year’s Copper Output

The Wall Street Journal reported that an executive from Chilean copper mine Collahuasi said the mine’s output is expected to be lower than the 453,000 metric tons of copper it produced last year.

As quoted in the market news:

Collahuasi, one of the world’s largest copper mines, saw output drop in the first half of the year on bad weather in January and February.

In addition, its ore grade, or the amount of copper found in the mined mineral, has been lower and it was forced to momentarily halt operations due to fatal accidents and a failure at one of its mills.

Based on data released earlier Friday by Anglo American PLC (AAUKY, AAL.LN), one of the mine’s controlling shareholders, Collahuasi produced around 145,000 tons of copper in the first half of the year.

Click here to read the full report from The Wall Street Journal.