Copper production declines on a world-wide level

World copper mine production decreased 1% in the first half of 2020, with concentrate production decreased 1.2% and solvent extraction electrowinning (SX-EW) decreased 0.4%, the International Copper Study Group said. "Global mine production declined by an estimated 4% in April-May, as these two months were hardest hit by the COVID-19-related global shutdown that resulted in temporary mine closures / reduced production levels. However, global mine production began in May to rebound as lockdown measures subsided and June production hit the same levels as June 2019, "the group wrote in its September update. The group found that the COVID-19 pandemic-related closures in Peru, accompanied by operational and weather issues, affected some larger mines and resulted in a 20% decline in mine production in the first half of 2020, inclusive a significant decrease of 38% in the April-May period compared to the same period in 2019. "However, as the Peruvian mining industry began to recover, the magnitude of the decline decreased to 9% in June compared to the same month of 2019. The group found that mining production also declined in Australia, Canada, Mexico, Mongolia, and the United States. "In Chile, the world's largest copper mining country, production increased 2.6% and recovered from production restrictions in early 2019 (production declined 2.5% in the first half of 2019). In the Democratic Republic of the Congo (DRC), the group found mine production increased 5% as production from the ramped up mines more than offset the temporary closure of the Mutanda mine in December 2019. In Indonesia, production increased 18% as production levels improved after the country's two largest copper mines moved to different ore zones in 2019.