How Will the Earthquake affect Copper Mines in Chile? SMM Reports

A weekly update on the trending stories from the New Energy sector.

The recent coastal wind and waves at northern Chilean ports has caused an extensive delay in copper exports by Chile in January. Of several large and medium-scale ports in northern Chile that transport copper cathode and copper concentrates like Antofagasta, Mejillones, Iquique, Arica and Patache, four ports could not load copper cathode as large-scale vessels failed to call at ports, with the exception of the Antofagasta port.

The government of Chile announced on September 11 that the country would extend the state of catastrophe for another 90 days from September 15. As of September 11, Chile confirmed a total of 430,535 coronavirus cases, with 11,850 fatalities.  

The 6.4 magnitude earthquake that hit Indonesia today had no impact on the three nickel pig iron (NPI) plants in Banten as they were in suspension, SMM understood.

Operations at Chilean state-owned copper smelter Hernan Videla Lira has been suspended due to a strike, according to the miner Enami.

Copper production in Chile rose 15.1% year-on-year to 510,400t in October, the highest monthly rate since December last year.

A strike is going to hit Teck Resources’ copper mine Quebrada Blanca in Chile on Wednesday due to a failure to agree on contracts mediated by the government.

The bank raises copper price expectation from $2.8 per pound to $2.95 per pound. Hence, the bank predicts the country’s copper export in 2018 will rise 9.6% to $76.4 billion on yearly basis.

An 8.2-magnitude earthquake shocked Chiapas, Mexico at 12:49 pm September 8, China Earthquake Networks Center (CENC) reported.

A 3.2-magnitude earthquake shook Bin County, Xianyang City, Shaanxi on September 5, cenc.ac.cn reported.