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Chile's mining sector expands 1.7% in February - report

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(Kitco News) - According to Chile's National Institute of Statistics (INE), the country's industrial production index (IPI) contracted by 1.1% in February 2023 y-o-y due to a decline in Chile's manufacturing sector while mining and electricity, gas and water sectors increased.

INE said that the domestic mining sector (IPMin index) increased 1.7% in February 2023 y-o-y, primarily due to the higher activity registered in the country's metallic mining subsector (up 1.3% y-o-y).

According to the report, Chile, the world's largest producer of copper, mined 384,462 tonnes of copper in February 2023, which is a decline of 3.8% compared to 399,817 tonnes mined in February 2022.

Meanwhile, Chile's manufacturing production index (IPMan) decreased by 3.6% in February 2023 compared to the same month of the previous year, primarily due to the decline in manufacturing of chemical substances and products.

The agency added that the country's electricity, gas and water production index (IPEGA) increased by 0.1% in February 2023 compared to February 2022 primarily due to the growth in electricity generation.

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