首页|Chile's copper industry paints rosy outlook for 2003
Chile's copper industry paints rosy outlook for 2003
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NSTL
August is mining month in Chile, the world's biggest copper producer, and the copper industry and the government are sticking to optimistic projections. Mining industry officials have predicted a significant rise in output for next year, even though global economic growth has been disappointing. That will help keep copper prices deflated, analysts say. Chile's mining month underscores that despite advances in financial and pension reform, market opening, and years of high growth in other sectors, the Andean nation still relies heavily on this commodity to provide income. Last year, copper contributed 36.9 percent of exports, though overall mining's share of Chile's gross domestic product was only 8.4 percent and Chile's dominant copper company, state-owned Corporacion del Cobre de Chile, or Codelca, only contributed 2.4 percent to the government's budget, according to data provided by the Chilean government's copper commission, known as Cochilco. After a weak 2002, marred by low prices despite output cuts, Chile's mining industry expects copper output to increase by 15.2 percent to 5.3 million metric tons next year, From an estimated 4.6 million tons over 2001, the president of Chile's National Mining Society, Hernan Hochschild, said earlier this week. He based his estimate on an expected 4.0 percent climb in Chilean GDP.
NSTL
