Sonami: Chile will produce more than 6 million tons of copper in 2014
The guild anticipated growth of 5% in copper mining country, which would bring the production to a record 6 million metric tons. Last year, the total production reached 5.77 million tons
Revista Nueva Minería & Energía
The National Mining Society (Sonami) projected growth of mining by 5% this year, with a record production of over 6 million metric tons of fine copper, 5% more than the 5.77 million metric tons reached in 2013.
The price of copper, meanwhile, would be at a range between U.S. $ 3 and U.S. $ 3.2 per pound, according to estimates by the Sonami, which on Wednesday unveiled its sectoral projections for 2014 through its president, Alberto Salas (pictured, with Alvaro Merino, research manager of the guild).
Regarding Chile’s mining exports, he estimated that they will reach U.S. $ 45,000 million, compared to U.S. $ 47,300 million in 2013, representing 61% of total shipments in the country.
“It is expected that the market for commodities show an increase in the production of goods and lower prices, which is explained by the increase in supply and a stronger dollar,” Salas said.
However, he pointed out that “there is cautious optimism about the global economy. It is expected that Europe to leave the recession behind, U.S. boost its economy after modest growth in 2013 and China grow by around 7.5%. “-
The union leader also said that this year a significant increase in supply due to the startup of new projects through the implementation of Caserones project (LuminaCopper) of Sierra Gorda (KGHM PolskaMiedz and Sumitomo) will occurs and especially expected by Ministro Hales project, from Codelco, which provide nearly 50% growth is expected for this year’s total production of copper from Chile.
