Thursday, June 29, 2006

Chile May copper output 458,521 metric tons, +0.7% on year

Chile's copper production totaled 458,521 metric tons in May, inching up 0.7% from the 455,526 tons produced in the same month in 2005, the National Institute of Statistics, or INE, said Wednesday.

In April, the country mined 442,641 tons of the metal.

Year-to-date, output increased 2.0% to 2,150,779 tons, from 2,108,845 in January-May 2005, INE reported.

Chile's total copper production in May rose on increased copper blister production, with offset falling cathode and concentrate output, the INE said withouth providing additional data on the amounts produced.

Chile is the world's largest copper producer, accounting for more some 37% of world output.

INE also released molybdenum output data, as the metal last year became the country's second-largest export, in terms of revenues.

In May, Chile's molybdenum production totaled 3,649 tons, a 9.4% fall from the 4,028 tons produced in May 2005. Year-to-date output tumbled 14.5% to 16,441 tons, compared with 19,231 tons produced in January-May 2005, INE said.

INE's metallic mining index rose 0.7% during the month, while its non-metallic mining index fell 2.6% in May from the same month a year earlier.

The overall mining index rose 0.4% on the year. In its April data, released last month, INE adjusted its index to 2003 as base year from the previous base year of 1990, increasing the weighting of copper and molybdenum.