ESG

Chile loses 200,000t copper output to COVID-19

Chile has suffered a 200,000 tonne loss of copper production due to impacts of the COVID-19 pandemic, Marco Riveros, EVP of state copper agency Cochilco, said during a public address about the performance of the Ministry of Mining in 2019.

Chile's mining minister, Baldo Prokurica

Chile's mining minister, Baldo Prokurica

Riveros said a reduction of personnel at mining operations and the suspension of projects cut output.

In a video presentation, Chile mining minister Baldo Prokurica highlighted the role of the mining sector in development of the country.

"The pandemic has provoked a fall in the price of copper which has impacted on our development plans. For each cent that the price of a pound of copper falls, the Chilean state will not receive US$60 million. Despite this difficult and perverse scenario, our message has been to prioritise and safeguard the life and health of the workers and in the measure possible maintain operational continuity of mining projects, and not paralyse this activity," he said.

Looking forward, the minister reaffirmed the important role Chile and its mineral products could have in addressing key issues humanity faces such as anthropogenic climate change. "We have a great opportunity to transform Chile with minerals [copper, lithium and cobalt] to combat climate change, improve the quality of life of people and promote the technologies of the future," he said.

The minister said the government was developing a national mining policy 2020-2050 with a focus on sustainability, investment and exploration.

In 2019, Chile produced 5.8Mt of copper, 54,000t of molybdenum and 1,189t of silver.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.