SMM, Sept. 9-Chilean copper production rose 7.3 per cent from January to September compared with the same period last year, as BHP Billiton's Escondida copper production rose sharply.
Codelco, the state-owned mining company, produced 1.29 million tons between January and September, down 2% from a year earlier, and almost all factories fell. In terms of production, Collahuasi- production, owned by Anglo American Plc and Glencore Plc, the country's second-largest mine, increased by 5.8 per cent to 401800 tons.
On the economy as a whole, Chile's central bank said in August that the country's gross domestic product grew 5.3 per cent in the second quarter of 2018 from a year earlier, the biggest increase in nearly six years.
The Bank of Chile said on Aug. 21 that gross domestic product grew 5.3% in the second quarter of 2018 from a year earlier, the biggest increase in nearly six years. According to the central bank, the country's economic growth rate grew by 0.7 per cent in the first quarter of 2018, mainly due to a strong boost from the manufacturing and business sectors.
Chile, the world's copper producer, lags slightly behind other economies. Copper prices had also fallen 4.8 per cent on fears of increased trade tensions between the US and China.
Monday's data from the central bank was the highest level before Chile's Conservative President Sebastian Pinera came to power from 2010 to 2014. Pinera came to power in early March, promising to fight the "stagnation" of South American economies. To vigorously develop the Chilean economy. The bank also said that domestic consumer demand in Chile had soared by 6 per cent as a result of increased household consumption and investment. (note: if copyright issues are involved, please contact SMM and we will deal with them in a timely manner.)