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Reuters reported that heavy rains in central Chile have prompted several miners to suspend operations. Anglo American (LSE:AAL) and Codelco have stopped operations at two mines in the region. As quoted in the publication: Any new outages will be keenly watched by copper investors as the market suffers its longest crisis in more than a …
Reuters reported that heavy rains in central Chile have prompted several miners to suspend operations. Anglo American (LSE:AAL) and Codelco have stopped operations at two mines in the region.
As quoted in the publication:
Any new outages will be keenly watched by copper investors as the market suffers its longest crisis in more than a decade amid concerns about oversupply, as demand from top consumer China slows.
Natural disasters in Chile, the world’s top copper exporter, have crimped output. The torrential downpours during the weekend follow a September 2015 earthquake and March 2015 flooding, which also caused disruption.
The rains battering central Chile left an estimated 4 million people without drinking water as landslides wreaked havoc and rivers breached their banks, leaving at least one person dead and another seven missing.