The Volume of Copper exported from Chile to China reached 7,843.82 Thousand Tonnes in 2020
The indicator recorded a historical grow at a CAGR of 20% between 2017 and 2020
Copper mining in Chile
Chile has an abundance of metal and mineral resources, including gold, silver, coal, lead, iron ore, copper and zinc. The country is the world’s largest producer of copper and has the largest copper reserves. According to the United States Geological Survey (USGS), Chile’s copper reserve held a significant position in the global total, as of January 2020.
With the impact of COVID-19, the country’s copper production is estimated to have fallen marginally in 2020, versus 2019. The country is among the worst affected nations from COVID-19 in South America. With the COVID-19 impact, the country’s mining industry has reported many active cases in H1 2020. The BHP-owned Escondida mine reported a year-on-year fall during Q3, due to a reduction in its operational workforce under a plan implemented against COVID-19.
Consumption and Exports
Chile is predominantly an export-oriented country, with China being its largest export partner.
China accounted for the majority of total exports in 2019, followed by Japan, South Korea and India. However, several ports were shut down in China due to the COVID-19 outbreak from the beginning of 2020, impairing trade, including the Shanghai International Port, which controls major of copper imports into China. Overall, copper shipments, particularly from Chile, were delayed and rescheduled to a later date. Fourteen provinces of copper smelting in China, were offline during February 2020, due to the outbreak of COVID-19. Delays in the logistical operations confined deliveries to the smelters.
COVID-19 has significantly impacted the trade and demand for the metal. During the first nine months in 2020, Chilean copper exports were down in 2019. This fall was attributed to lower demand from its major export partner countries, including Japan and India.
Copper producers in Chile
BHP is one of the leading mineral resource companies in the world. It discovers, acquires, develops and markets various commodities, including iron ore, coal, nickel, copper, lead, silver, molybdenum, uranium, zinc and gold. BHP is headquartered in Melbourne, Australia. The company’s operational projects include copper mines in Chile, Australia and Peru.
Corporacion Nacional del Cobre de Chile (Codelco)
Corporacion Nacional del Cobre de Chile (Codelco) is a mining company, which is involved in the exploration, development, extraction and processing of mineral resources. The company produces refined copper in the form of cathodes, copper concentrates, blister and anode copper and by-products such as molybdenum, silver, copper calcine, anode slime, sulfuric acid, copper cathodes and wire rods. The company owns operating mines such as the Chuquicamata, Salvador, Andina, El Teniente, Radomiro Tomic and Gabriela Mistral and Ministro Hales mines in Chile.
Switzerland
China
Japan
Luxembourg
South Korea
Japan
United Kingdom
Australia
Japan
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