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Chile's mining sector contracts in July as local copper production falls 8%

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 5.1% in July 2022 y-o-y due to decreases in manufacturing (-5.1%) and mining (-6.5%) sectors, while the electricity, gas and water sector was up 0.3%.

INE said that the 6.5% decline in Chile's mining sector (IPMin index) was due to lower activity registered in the country’s metallic mining subsector, which fell 8.2% due to the decrease in extraction and processing of copper.

According to the report, Chile, the world’s largest producer of copper, mined 430,028 tonnes of copper in July 2022, which is 8% lower than 465,000 tonnes mined in July 2021.

Meanwhile, Chile's Manufacturing Production Index (IPMan) decreased by 5.1% in July 2022 compared to the same month of the previous year, primarily due to the decrease in manufacturing of non-metallic mineral products.

In contrast, the Electricity, Gas and Water Production Index (IPEGA) rose by 0.3% in July 2022 compared to July 2021 as domestic electricity generation sector recorded growth.

Kitco Media

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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