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(Bloomberg) -- Peruvian Prime Minister Alberto Otarola vowed to keep social unrest in check to allow mines to continue churning out copper and pave the way for investments needed to retain the nation’s status as the second-biggest producer of the metal.Most Read from BloombergDimon Warns 7% Fed Rate Still Possible, Times of India SaysRepublican Moderates Turn to Rare Maneuver to Avoid Lengthy Government ShutdownIndians Have Five Days to Deposit $3 Billion in Soon-to-Be-Withdrawn BanknotesStocks
SANTIAGO (Reuters) -Chile's state miner, Codelco, on Friday cut its copper output forecast for 2023 and said it expects more halts in production during the second half of the year, following months of declines. The miner expects to have a yearly production of between 1.31 million-1.35 million metric tons from 1.35 million-1.45 million tons previously forecast, it said on Friday, as it reported that pretax profit fell 86% in the first six months of this year. The miner's pretax profit landed at $329 million for the first half of 2023, while its copper output slipped 14% year-on-year...
According to Cochilco, the copper output at the world's largest copper miner fell 9.9% on the year in October to 144,100 mt.
According to MiningWeekly, Fitch Solutions predicts that the copper output at global mines will increase 7.8% this year compared to last year due to the commissioning of multiple new projects and the low base in 2020 driven by the Covid-19 pandemic.