Jan 14, 2013 (Dow Jones) SANTIAGO, Chile--The world's largest copper producer, Chile, will likely increase its output of the industrial metal this year to 5.8 million metric tons, the head of the Sonami mining trade group said Monday.
According to Sonami president Alberto Salas, the Andean nation produced 5.4 million tons of copper last year, which is approximately a third of global output.
The government hasn't yet released the official copper output data for the full year 2012, but in January-November, the country produced 4.9 million tons, an increase of 3.7% year-on-year according to the government's statistics institute.
The metal, which represents about 15% of the country's gross domestic product, 60% of exports and around 23% of fiscal income, will likely average between $3.60 and $3.80 a pound this year, Mr. Salas said.
