As local copper production drops by 8% in August, Chile’s mining industry declines

The National Institute of Statistics (INE) of Chile reports that the country’s industrial production index (IPI) decreased 5.0% year over year in August 2022 as a result of declines in the manufacturing (-4.0%), power, gas, and water (0.9%), and mining (-7.3%) industries.

According to INE, the fall in Chile’s mining sector (IPMin index) of 7.3% in August 2022 was caused by lower activity seen in the nation’s metallic mining subsector, which fell by 9.5% as a result of a decline in copper extraction and processing.

The largest copper producer in the world, Chile, produced 422,888 tonnes of copper in August 2022, 8.4% less than the 461,900 tonnes it produced in August 2021.

The manufacturing production index (IPMan) for Chile fell by 4.0% in August 2022 compared to the same month the year before, mostly as a result of a reduction in the output of chemical materials and goods.

According to the agency, all three activities that make up the country’s electricity, gas, and water production index (IPEGA) experienced declines in August 2022 compared to August 2021, mainly water production, which caused the index to fall by 0.9%.

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