Codelco Struggles to Halt Persistent Slide in Copper Output
The top supplier has seen production plunge to its lowest in decades. The implications reach far beyond Chile.
Codelco’s Chuquicamata open pit copper mine near Calama, Chile. Declining output is crimping supplies of a metal considered key for the energy transition.
Photographer: Cristobal Olivares/BloombergWelcome to our guide to the energy and commodities powering the global economy. Today, senior reporter James Attwood examines the implications of Codelco’s sharp drop in copper production. Bloomberg Green says these are the people to watch in the climate sector. To get this newsletter sent straight to your inbox, sign up here.
Codelco, the world’s biggest copper supplier, insists it’s coming to grips with production issues. But output keeps falling, and analysts aren’t convinced the Chilean state behemoth will meet its own pledge to halt the slide.