• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Minerals
    Tech
    Life Science
    Base Metals Market
    Base Metals News
    Base Metals Stocks
    • Base Metals Market
    • Base Metals News
    • Base Metals Stocks
    copper investing

    Copper Price Jumps as 8.3-magnitude Earthquake Rocks Chile

    Written by Teresa Matich
    |
    Sep. 16, 2015 07:25PM PST

    The copper price jumped on Thursday as investors worried about supply disruptions following reports of an 8.3-magnitude earthquake off the coast of Chile.

    The copper price jumped on Thursday as investors worried about supply disruptions following reports of an 8.3-magnitude earthquake off the coast of Chile. According to Reuters, LME copper hit a near eight-month high on the news. It was up 1.1 percent, to $5,440.50 a tonne.
    Copper futures were up as well, rising 0.9 percent, to $2.47 per pound, on the news, the Financial Times reported.
    State-owned miner Codelco released a statement (in Spanish) noting that workers were evacuated from its Ventanas division, and that operations there were halted due to the earthquake. Codelco added that workers and facilities were not affected at its other operations in Chile.
    The quake has triggered a tsunami warning for Chile, Peru and French Polynesia, according to another Reuters article. The news outlet states that there have been reports of flooding streets near the coast due to waves triggered by the quake.
    As The Guardian notes, a magnitude-8.8 quake and the resulting tsunami killed more than 500 people in Chile in 2010.
    Chile has already been hit twice with heavy rains and flooding this year, with thousands of people affected. Codelco temporarily halted its operations due to the storms, and the miner has seen issues due to strikes at its Ministro Hales and Salvador mines this year.
    The spot copper price has gained roughly 9 percent since August 26, but is still down about 17 percent year-to-date.


    **Update: Antofagasta (LSE:ANTO) has also halted production at some of its operations due to the earthquake.**
     
    Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
    chilelme coppercopper investing
    The Conversation (0)

    Go Deeper

    AI Powered

    Copper Price Hits 3-month Low on Rising Geopolitical Tension

    Heavy Rains Halt Copper Mining in Chile

    Latest News

    Brixton Metals Reports 97.0% Gold Recovery in Initial Metallurgical Work from the Trapper Gold Target

    RENFORTH INTERSECTS BROAD NICKEL-COBALT AND ZINC-COPPER-SILVER MINERALIZATION IN VICTORIA UNDERCUT DRILLING, INCLUDING 118.0 m OF 0.081% Ni AND 10.9 m OF 0.544% Zn

    Renforth Successfully Intersects Gold in Both Drillholes Undercutting Surface Gold Results within the 2025 MRE Pit Shell at Wholly Owned Parbec Gold Deposit in Malartic, Quebec

    Great Western Mining Corporation PLC Announces Holding in Company

    Steadright Private Placement Upsized to $900K and Appoints Director

    More News

    Outlook Reports world

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Base Metals Investing Stocks

    Great Western Mining

    Great Western Mining  (GWMOF)
    GWMOF

    Culpeo Minerals

    Culpeo Minerals (CPO:AU)
    CPO:AU

    Pan Global Resources

    Pan Global Resources (PGZ:CC)
    PGZ:CC

    Red Metal Resources

    Red Metal Resources (RMES:CC)
    RMES:CC

    Copper Intelligence

    Copper Intelligence (CUAI)
    CUAI

    Getty Copper

    Getty Copper (GTC:CC)
    GTC:CC
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES