浙江之源资产评估有限责任公司
Chile's mining costs have risen by 29%.
Release time:
2023-08-31
Source:
China Nonferrous Metals Network
On August 28, a report released by Chile’s government agency CochiLco showed that, in the first three months of this year, cash costs at Chile’s mines—the world’s largest copper producer—rose by 29% compared to the same period in 2022. The pressure from inflation stems from declining ore quality, meaning that more rock needs to be crushed to extract the same amount of metal. Other contributing factors include higher wages, energy costs, and refining expenses. Were it not for the increase in accounts receivable resulting from higher sales of molybdenum and gold byproducts, the rise in costs would have been even more severe. Although some of these factors have changed since the first quarter, two key cost drivers—declining ore grades and disruptions to production and projects—continue unabated, particularly for Chile’s state-owned copper giant, Codelco.
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