World’s top copper supplier Codelco posts drop in production
Codelco posted a decline in first-half copper production as setbacks at its Chilean mines and projects loosen the state-owned firm’s grip on the title of world’s biggest supplier of the metal.
Production came in 8.4% below the first six months of last year, the Santiago-based company said Friday.
Codelco has seen its production tumble amid disruptions at mines and long delays at projects as the company plays catchup after decades of underinvestment. Some analysts, including those from Bloomberg Intelligence, see BHP Group overtaking Codelco this year in terms of production.
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