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Chile's mining sector contracts in June as local copper production falls 3.2%

Kitco Media
By Vladimir Basov
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(Kitco News) - According to Chile’s National Institute of Statistics (INE), the country’s Industrial Production Index (IPI) contracted 1.5% in June 2022 due to decreases in manufacturing (-2.5%) and mining (-2.1%) sectors, while the electricity, gas and water sector was up 4.8%.

INE said that the 2.1% decline in Chile's mining sector (IPMin index) was due to lower activity registered in the country’s metallic mining subsector, which fell 3.9% due to the decrease in extraction and processing of copper.

According to the report, Chile, the world’s largest producer of copper, mined 462,172 tonnes of copper in June 2022, which is 3.2% lower than 477,300 tonnes mined in June 2021.

Meanwhile, Chile's Manufacturing Production Index (IPMan) decreased by 2.5% in June 2022 compared to the same month of the previous year, primarily due to the decrease in manufacturing of metal products other than machinery and equipment.

In contrast, the Electricity, Gas and Water Production Index (IPEGA) rose by 4.8% in June 2022 compared to June 2021 as all three activities that make up this index recorded growth, especially the electricity generation sector.

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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