Codelco expects lower copper output this year
Codelco expects to produce less copper this year, according to a person familiar with the matter, as the Chilean state-owned miner grapples with setbacks at its mines and projects. The note comes after Codelco relinquished the world's biggest copper supplier title to BHP Group last year, highlighting a shift in near-term output from a historically dominant producer. Lower production this year could tighten available copper volumes and affect international supply chains and market balances that depend on copper, while observers wait for official company guidance or remediation plans for the affected mines and projects.
Codelco expects lower copper output this year due to mine setbacks
Context
Codelco lost the world's biggest copper supplier title to BHP Group last year. It now expects lower copper output because of setbacks at mines and projects. Observers may wait for official guidance or updates next.
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