According to data from the Chilean Copper Commission (Cochilco), from January to July 2023, Chile’s copper production reached 2.9592 million tons, setting a new low since in 2011.

Among them, Corporacion Nacional del Cobre de Chile (Codelco), a state-owned copper mining company in Chile, produced 808,900 tons of copper, the lowest level since 2003, and its proportion of the country's total production dropped to 27.3%.

The main reasons for the decline in copper production are falling ore grades. In addition, the rock explosion accident in the El Teniente mining area in July also exacerbated the difficulty of its operation and management.

However, in 2023, Chilean copper production will be driven by the commissioning of multiple large-scale projects and is expected to increase by 7.5% annually to 5.7 million tons.