Codelco To Lower H114 Copper Shipments To China
News: Chile's state-owned copper mining company Codelco is reported to have asked Chinese importers to accept fewer copper shipments during H114 following issues at its new Ministro Hales mine in Calama, Chile, Mineweb reports. The company is expected to make up the reduced shipments during H214. Industry experts have suggested that the move may help increase copper prices.
BMI View: We forecast Chile's mining sector will grow through 2017, albeit at a more moderate pace than in previous years. Major miners will continue to develop several large projects, though rising costs and falling prices will lead to more conservative expansion and acquisition plans. Our forecast is for Chile's mining sector to expand by 1.5% on average per annum through 2017.