Chile's Copper Output Hits 15-Year Low Amid Weather Disruptions

Chile's copper production plummeted in August to its lowest level in over 15 years, sparking concerns about global supply. The country's output fell 13% from a year earlier to 369,500 metric tons, according to data released by Chile's national statistics agency INE.

This decline was largely due to severe winter weather and port disruptions that weighed on mining operations during August. The industry had already been recovering from storms in July that affected several mines in northern Chile.

Chile's copper production has struggled despite billions of dollars invested in new projects. The country is facing declining ore grades, accidents, and operational difficulties at major mines, which have frustrated efforts to increase production even as copper prices rise.