15 October 2019 LME basic Metal inventory

Officials from the mining authorities of Chile, Argentina, Bolivia and Peru held a ministerial meeting in Santiago, the capital of Chile, on the 28th and signed a joint statement calling for stronger regional cooperation, the sustainable development of critical minerals, technical exchanges and investment, and joint efforts to elevate the region’s position in the global critical minerals supply chain.The joint statement stressed that mining is an important driver of economic growth, job creation, human capital development and social progress. The four countries will cooperate to promote the sustainable development of critical minerals, strengthen experience sharing in geological research, mining regulation, public policy and professional talent development, and explore technical and institutional cooperation mechanisms, encouraging the public and private sectors to jointly participate in scientific research and innovation projects.

Codelco said on Friday that its H1 pre-tax profit was$1.966 billion, more than four times the $429 million in the same period a year earlier.The company said copper production in the January-June period was 564,000 mt, down 11% from634,000 mt in the same period of 2025.

Data released by the State Customs Committee of Azerbaijan showed that during the period from January to July this year, Azerbaijan exported more than 69,117 mt of copper ores and concentrates, worth nearly$153 million. Compared with the same period last year, export value increased by more than $136 million (up 9.5 times), and exports increased by 59,051 mt (up 6.8 times). During the reporting period, export revenue from copper ores and concentrates accounted for 0.5% of Azerbaijan's total export value.