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Chile, the world's largest copper mining market, saw production costs fall 17 percent in the first half of 2020 as the coronavirus outbreak is sweeping the country
, Chile's mining ministry said Thursday.
Cash costs fell from $1.
45 per pound of copper in the first six months of 2019 to $
1.
21 per pound in the same period in 2020, the ministry said in a statement.
A report by Chilean copper agency Cochilco said lower costs were due to a stronger dollar against the peso, as well as lower prices for key components of copper processing, including sulfuric acid and diesel
.
The analysis assessed mines that account for 92% of Chile's copper production and overlapped highly with
the coronavirus outbreak in the country.
Despite staff reductions and enhanced hygiene measures, Chile's vast copper deposits remained open until the peak of the outbreak, and they largely maintained production
even at the height of the outbreak.
BHP Billiton, Anglo American and Antofagasta Mining and the state-run Chilean National Copper Company are among the world's largest copper producers
.
Chile, the world's largest copper mining market, saw production costs fall 17 percent in the first half of 2020 as the coronavirus outbreak is sweeping the country
, Chile's mining ministry said Thursday.
Cash costs fell from $1.
45 per pound of copper in the first six months of 2019 to $
1.
21 per pound in the same period in 2020, the ministry said in a statement.
A report by Chilean copper agency Cochilco said lower costs were due to a stronger dollar against the peso, as well as lower prices for key components of copper processing, including sulfuric acid and diesel
.
The analysis assessed mines that account for 92% of Chile's copper production and overlapped highly with
the coronavirus outbreak in the country.
Despite staff reductions and enhanced hygiene measures, Chile's vast copper deposits remained open until the peak of the outbreak, and they largely maintained production
even at the height of the outbreak.
BHP Billiton, Anglo American and Antofagasta Mining and the state-run Chilean National Copper Company are among the world's largest copper producers
.
