Chile Copper Output Drops to Lowest Since 2011

Chile’s copper production fell 12.8% year-on-year to 369.5 metric tons in August 2026, reaching its lowest level of output since February of 2011 and extending a 9.4% decline in the previous month. The decline reflects the lingering effects from a storm that occurred in July and disrupted production operations. The sharp drop in output from Chile, the world’s largest copper producer, added to concerns over copper physical markets that have showed signs of tightness.

Chile’s copper production fell 9.4% year-on-year to 403,424 metric tons in July 2026, reversing a 5.1% increase in June. The decline was attributed to unfavorable weather conditions in northern Chile that disrupted production, as well as maintenance work at major mining operations. The sharp drop in output from Chile, the world’s largest copper producer, added to concerns over tightening global copper supplies.

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.