SANTIAGO, July 30 -- The copper mine output of Chile, the world's largest producer, will total 5.41Mt this year, compared to 5.33Mt last year, according to the country's state copper commission Cochilco.
In 2010 Chile is expected to produce 5.75Mt of copper from its mines.
Worldwide mine output this year is expected to be 16.3Mt, compared to 15.6Mt last year, while in 2010 it will climb to 17.2Mt, Cochilco said in a report.
Due to an expected decline from the US to 1.15Mt this year and 1.11Mt in 2010, from 1.32Mt last year, Peru is expected to overtake the North American nation as the world's second largest producer in 2009, the report said.
Nevertheless, Cochilco said it expects Peru to drop from 1.25Mt produced last year to 1.24Mt in 2009 and 1.21Mt in 2010.
China will continue to be in fourth place with 1.07Mt this year and 1.09Mt in 2010, compared to 1.02Mt last year. Australia follows close behind with 1.02Mt expected for 2009 but is set to drop to 986,000t next year.
Mexico is expected to produce 248,000t this year and 369,000t next year, while Brazil is slated to produce 224,000t in 2009 and 223,000t next year.
As for global demand, the commission said it anticipates a 1.4% drop in 2009 compared to the year before to 17.8Mt. For 2010 Cochilco expects a 3.5% rise to 18.3Mt.
In fine copper supply, the organization expects a 0.3% rise to 17.9Mt and next year a 3.2% increase to 18.5Mt, in both cases a registering a slight surplus over demand.
(Source: Business News Americas)