Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Copper - analysis -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (1266)	7/28/2005 7:42:58 PM
From: Stephen O	Read Replies (1) \| Respond to of 2131

Chile, Top Copper Miner, Says Production Falls 8.7% in June 2005-07-28 15:12 (New York) By Heather Walsh July 28 (Bloomberg) -- Chile, the world's biggest supplier of copper, said production dropped in June for a second month in three, worsening a decline in stockpiles of the metal that has led prices to gain 33 percent in 12 months. Production fell 8.4 percent to 411,801 metric tons from 449,804 tons in June 2004, as most miners reduced output, the state-run National Statistics Institute said today. Chile accounts for about a third of mined copper worldwide. Production increases in Chile this year and next will lag growth in demand for the metal, according to estimates made July 26 by the state-run Chilean Copper Commission. Demand in China, the world's biggest user of copper, helped push prices for the metal to record levels this week. ``Mines are running at their full capacity -- it's impossible for them to produce more even with this demand,'' said Diego Figueroa, an analyst at brokerage Larrain Vial SA. Expansion projects will increase production in 2007, Figueroa said by telephone in Santiago. Chile accounts for about a third of copper worldwide from mines. In June, an earthquake triggered a two-week shutdown at Cerro Colorado, a mine owned by BHP Billiton Plc. Other companies with mines in Chile include state-run Codelco, the world's biggest copper producer, BHP Billiton Plc, the world's biggest miner, and Phelps Dodge Corp. Copper futures for September delivery rose 2.2 cents, or 1.4 percent, to close at $1.649 a pound on the Comex division of the New York Mercantile Exchange. Chilean copper exports this year will rise to a record $15.2 billion from $12.6 billion last year, the commission said. --Editor: Jameson.