Chile's mining production tumbles in April

Chile's industrial production index (IPI) dipped 3.6% year-on-year in April due to a heavy drop in mining activity, according to national statistics bureau INE.

Mining production fell 10.6% year-on-year in April, which was the worst result in months, due to lower activity in metal mining, which was down 12.2% due to reduced extraction and processing of copper and metallic minerals because of lower treatment rates and falling ore grades, INE stated in its report.

Chilean mining has been a key for the recovery of the national economy since activity plunged as a result of the COVID-19 pandemic. In 2021 the sector grew by an historic 11.7%, the largest growth seen in four decades, according to the report. 

Chile is the world's leading copper producer, accounting for 28% of global copper production, with giants such as BHP, Anglo American, Codelco and Antofagasta Minerals operating in the country. 

In addition to mining output, the IPI is comprised by manufacturing production and electricity, gas and water production, which were up 1.7% and 0.9% year-on-year, respectively, in April.   

Chile's mining production. Credit: INE