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Chile's mining sector contracts in June as lithium carbonate and copper production down - report

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 by 2.7% in June 2023 y-o-y due to a decline in Chile's manufacturing, mining and electricity, gas and water sectors.

INE said that the domestic mining sector (IPMin index) decreased by 0.4% in June 2023 y-o-y, primarily due to lower activity registered in the country's non-metallic mining subsector, which declined due to a decrease in the production of lithium carbonate, while Chile’s metallic mining subsector was flat y-o-y.

According to the report, Chile, the world's largest producer of copper, mined 457,921 tonnes of copper in June 2023, which is a decline of 1% compared to 462,172 tonnes mined in June 2022.

Meanwhile, Chile's manufacturing production index (IPMan) decreased by 5.2% in June 2023 compared to the same month of the previous year, primarily due to the decline in manufacturing of food products.

The agency added that the country's electricity, gas and water production index (IPEGA) fell by 0.9% in June 2023 compared to June 2022 due to a decline in two of the three activities that make up the index.

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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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