Chile seen producing 5.6m tonnes of copper in 2017 – agency

Codelco produces nearly 10 percent of the world's copper and contributed nearly $3 billion to Chile's coffers in 2017.

SANTIAGO – Chile’s copper production in 2017 would be 5.6-million tonnes in the South American nation, a 0.8% rise from 2016, according to state copper commission Cochilco.

The body predicts 2017 average copper prices of $2.64/lb in 2017, slightly higher than its previous estimate of $2.60, due to greater-than-expected demand in key market China.

The average price for the metal in 2018 will likely rise to $2.68.