Chile Copper Output Falls Sharply in May

Chile's copper production rose 5.1% year-on-year to 447,294 metric tons in June 2026, rebounding from a 12.9% decline in May. The increase was driven by higher ore processing at the country's major mining companies. The recovery in Chile, the world's largest copper producer, helped ease concerns over tightening global copper supply. Meanwhile, Chile's Mining Production Index rose 6% from a year earlier, supported by a 4.6% increase in metallic mining, a 14.5% rise in non-metallic mining, and a 4.3% gain in energy resources production.

Chile’s copper production fell 12.9% year-on-year to 423,623 metric tons in May 2026, following a 13.8% decline in the previous month. The Mining Production Index dropped 10.6% year-on-year, driven by weaker activity in metallic mining, which fell 13.0%, mainly due to lower copper extraction and processing. The decline in Chile, the world’s largest copper producer, increased concerns over tightening global copper supply.

Chile’s copper production dropped 13.8% year-on-year to 399,954 metric tons in April 2026, following a 9% decline in the previous month. Output was pressured by a high comparison base and lower ore grades at major producers, weighing on extraction and processing activity. The decline in Chile, the world’s largest copper producer, heightened concerns about tightening global copper supply.