Home / Metal News / Chile’s mining output increased 7.7% year-on-year in February, with copper and lithium contributing

Chile’s mining output increased 7.7% year-on-year in February, with copper and lithium contributing

iconApr 2, 2024 19:40
Source:SMM
Chile’s mining output increased 7.7% year-on-year in February, with copper and lithium contributing

April 1st report indicates that after several months of persistent downturn, Chile's mining output has begun to improve, with the total production in February registering a 7.7% increase compared to the same period last year. According to data from the National Statistics Institute of Chile (INE), the country's principal commodities, copper and lithium, have been the main drivers behind the overall production rise. Copper production surged by 9.95% to 420,242 tons, leading to a 5.5% increase in metal mining output. Chile's copper supply accounts for nearly a quarter of the global total. The non-metallic mining sector also saw a substantial year-over-year output growth of 24.9%, contributing to the overall positive results. The INE data revealed that this specific category has been buoyed by an increase in lithium carbonate production.

As the world's largest copper producer and the second-largest exporter of lithium—the key material for manufacturing batteries for electric vehicles, mobile phones, and other high-tech devices—Chile remains at the forefront in these areas. Yet, the country continues to seek expansion in lithium production, with official estimates predicting a 70% increase by 2030 and a doubling of output over the next decade. Just last week, Chile announced a list of 26 lithium-rich salars, which will be opened to private investors through bids from April to July.

New Energy
new energy prices

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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

Related news