The pace of the United Nations Climate change Conference is close to the Chilean government's plan to close the Ventanas copper smelter owned by Codelco

Published: Oct 9, 2019 13:42

Save

With the 2019 United Nations Climate change Conference (the 25th Conference of the parties to the United Nations Framework Convention on Climate change, or COP25) to be held in Chile in early December, Codelco's Ventanas copper smelter is likely to close in the coming months. Although the news has not yet been formally approved by the government, according to sources, the shutdown of the smelter may be part of a plan for the COP25 period.

SMM10, 9 May: as the 25th Conference of the parties to the United Nations Framework Convention on Climate change (COP25) will be held in Chile in early December, the Ventanas copper smelter owned by Codelco may close in the next few months.

Although the news has not yet been formally approved by the government, according to sources, the shutdown of the smelter may be part of a plan for the COP25 period.

It is reported that in addition to environmental factors, economic factors are also a major reason for the closure of the smelter. The smelter has lost $526 million in the past decade and has not grown.

"Click to sign up for the Bronze Rod Industry Summit Forum

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business

Copper production capacity price forecast output

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

19 mins ago

Rio Tinto and Glencore Plan to Extend Negotiations, LME Copper Fell Sharply Last Friday [SMM Copper Morning Meeting Minutes]

SMM Morning Meeting Minutes: On Friday, LME copper opened at $13,230/mt, hitting an intraday high of $13,481.5/mt in early trading, after which copper prices fluctuated downward, touching a low of $12,845/mt near the close, and finally settled at $13,070.5/mt, down 4.63%. Trading volume reached 29,000 lots, an increase of 2,143 lots from the previous trading day; open interest stood at 330,000 lots, a decrease of 1,761 lots from the previous trading day, with the overall performance mainly reflecting long liquidation. On Friday evening, the most-traded SHFE copper 2603 contract opened at 104,200 yuan/mt, fluctuated rangebound in early trading before reaching a high of 105,080 yuan/mt, then fluctuated downward, touching a low of 102,700 yuan/mt near the close, and finally settled at 103,190 yuan/mt, down 4.75%. Trading volume reached 183,000 lots, a decrease of 603,000 lots from the previous trading day; open interest stood at 219,000 lots, a decrease of 4,081 lots from the previous trading day, with the overall performance mainly reflecting long liquidation.

19 mins ago

Jan 31, 2026 23:47

Jiangxi Launches First Virtual Power Plant Pilots for Enhanced Energy Management

According to Polar Power Grid, to accelerate the development of virtual power plants and leverage their positive role in supply assurance, operational regulation, and new energy integration, the first batch of virtual power plant pilot applications will be organized across Jiangxi Province, in accordance with documents such as the "Jiangxi Province Work Plan for Promoting High-Quality Development of Virtual Power Plants" and the "Jiangxi Province Guidelines for Virtual Power Plant Construction and Operation."

Jan 31, 2026 23:47

Jan 31, 2026 23:46

China's 15th Five-Year Plan Aims to Tackle High-Quality Development Barriers and Enhance Energy Markets

According to Electric Union New Media, the proposal for the outline of the 15th Five-Year Plan, reviewed and adopted at the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China, explicitly states the need to "focus on institutional and mechanism obstacles hindering high-quality development" and "accelerate the improvement of markets and pricing mechanisms adapted to the new-type energy system."

Jan 31, 2026 23:46