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Copper production continues to increase

Despite the fact that the Chilean company «Codelco» in the first 6 months of this year increased the smelting of copper, it was part of the income lost. In particular, it decreased by 27% during the period from January to June corporate profits, amounting to 1.3 billion as a result. USD. The main factor that will affect the end result is a decrease in the average red metal price of 8% to the level of 3,14 USD per pound. The production of copper in January-June increased by 4% compared to the same period last year, reaching a level of 788 000 tonnes due to the discovery of new deposits. Copper market in 2014 significantly weak, given the current political situation and strong enough concerns about demand from China.

How to predict the Chilean analysts «SONAMI», the production of the red metal in 2014 will reach 6 million. Tons, while last year this figure was equal to 5.77 million. Tons. The following year, these data are expected to reach the level of 6.3 mln. Tons. As for investments, according to the Chilean Commission «COCHILCO» investments for the period 2014−2023 gg. Chile in the mining industry will be about 105 billion. USD, of which investment corporation «Codelco» ongoing projects and the preparation of new deposits.

Meanwhile, the Chinese metallurgical holding «Jiangxi Copper» has provided its own financial results for the first half of 2014, by which the aggregate operating profit reached 15 billion. USD, while the last fiscal year figures were lower by 5.64%. The size of net profit amounted to 200 million. USD, which compared to the same period last year down 3.55%. During this period, it has released 569,000 tons of cathode copper, 362 thousand tons of copper rod, 13.18 tons of gold, 301 tonne silver — this index was the most significant, an increase compared to the same period last year by 5.61%. Also significantly increased the release of parts of the cable and billets from copper — this figure exceeded last year's results by 12.7%, reaching a level of 35 500 tonnes.

Chinese holding «Chalco» provided forecasts of anticipated production volumes in 2014 he owned Peruvian department. Initial forecasts suggested getting MMC «Toromocho» copper products in the amount of 100−120 ths. Tons, but in the implementation of the poor weather conditions adversely affected the plans, technological challenges and the human factor, which reduced production figures calculated before eventually to the level of 80−85 thousand. t.

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