Chile Says Manufacturing, Copper Output Down in November

RIO DE JANEIRO, BRAZIL – Chile’s manufacturing output dropped 1.7% year on year in November, government statistics agency INE said on Thursday, December 31st, falling short of expectations as the coronavirus pandemic continued to weigh heavily in the world’s top copper producer.

The country’s copper output fell 2.1% to 493,538 tons in November, the agency said. Chile’s total copper production through November hit 5.29 million tons, an increase of 0.2% over the same period in 2019.

Manufacturing output was hit hardest by a sharp drop in the production of chemicals in November, the government said.

The statistics agency’s mining production index (IPMin) crept up 0.6% year on year, boosted primarily by a spike in the production of non-metalic metals caliche and ulexite.

Copper processing and extraction – the dominant mining activities in Chile – fell 1.3% overall, primarily due to reduced copper output, the agency said.

The copper industry has nonetheless remained a bright spot in Chile’s otherwise ailing economy. The country’s large copper mines have implemented strict sanitary measures and continued to churn out copper even at the height of the pandemic.