SANTIAGO: Top copper producer Chile will likely churn out 5.9 million tonnes of the red metal in 2018, up 7 percent from this year’s estimated output that was curbed by a strike at the world’s biggest copper mine, a mining association said on Tuesday.
But the National Mining Society (Sonami) warned that some 30 pending negotiations over expiring workers’ contracts could change its 2018 forecast if fresh strikes hit the sector.
Sonami’s 2018 production forecast was more optimistic than the 5.74 million tonnes estimated by state copper commission Cochilco last week.
This year’s 44-day strike at BHP Billiton Ltd’s Escondida mine will likely limit the country’s 2017 copper output to 5.5 million tonnes, Sonami said in a study.
Sonami added that global copper prices will likely average $2.90-$3 per pound next year.
Source: Brecorder.com
