62% of Chilean copper exports are refined products
In the last ten years, two thirds of deliveries correspond to sales of copper metal in its purest form
One of the great myths that exist in the Chilean mining industry is that the country exhibits a majority export of copper in concentrated, ie no added value.
However, specific figures say otherwise. The national mining companies ore shipped mostly cathode state.
According to information published by the Mining Council on its website during the past year, 62% of copper shipments made by the country corresponded to commodities in a state of refined cathode or some other variable.
This last figure represents a total value of U.S. $ 24.415 million, compared to U.S. $ 15,149 million were exported last year in concentrated state. The latter accounted for 38% of sales abroad.
“In the last 10 years, two thirds of Chile’s copper exports, expressed in dollars, are cathodes and other refined products, and the remaining third to concentrates. If calculated in terms of tons exported, also observe a majority, though less marked, of refined products. These data may serve to demystify the usual perception that Chile would export mainly concentrated “said Jose Tomas Morel, research manager of the Mining Council.
To achieve this added value in their shipments, domestic industry uses foundries. This latter allows transform copper from its concentrated state into cathode.
In Chile there are seven foundries, of which five are state-run. Caletones Potrerillos, Chuquicamata and Ventanas belong to Codelco, while Videla Lira belong to Enami.
To the above are added two private plants: Chagres from Anglo American and Alto Norte from Xstrata.
As explained in the industry, having foundries in the country allow to sell copper at a higher price, avoid the refining payment to other countries such as China and obtain a greater margin in marketing.
Source: El Mercurio
