Chile sees copper prices rising to average $2.95/pound in 2018
“While we are in an environment of higher prices we remain cautious as we don’t want to lose sight of the achievements and adjustments we made when prices were much lower and costs had to be cut.”
Chile is on course to produce 5.5 million tonnes of copper this year, the minister said, adding that a pipeline of new projects could realistically see this rise to 6.3 million tonnes in the next decade.
Copper is integral to the Chilean economy, where copper-related activity can account for up to 15 percent of gross domestic product.
For every one cent increase in the average annual price of copper, Chilean exports grow nearly $125 million and tax revenues increase by $60 million, according to official estimates.
Source: Brecorder.com
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