If copper mining is any indication, there’s still plenty of work to do to bring down inflation. Cash costs at mines in Chile, the top-producing copper nation, jumped 29% in the first three months of the year compared with the same period of 2022, according to a report released Monday by government agency Cochilco.
If copper mining is any indication, there’s still plenty of work to do to bring down inflation.
Cash costs at mines in Chile, the top-producing copper nation, jumped 29% in the first three months of the year compared with the same period of 2022, according to a report released Monday by government agency Cochilco. Inflationary pressure is coming from lower ore quality, which means more rock has to be crushed to extract the same amount of metal. Other factors include pricier wages, energy and refinery fees. The cost increases would have been more severe if not for higher receivables from the sale of molybdenum and gold as byproducts.
While some of those factors have changed since the first quarter, two key cost drivers — lower ore grades and disruptions to production and projects — have continued, particularly at state behemoth Codelco.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Frasier's Reboot Missing Original Characters Pays Off A 29 Year Old JokeKelsey Grammer's Frasier reboot might be missing a lot of the original cast, but a joke from 1994 predicted it would happen. Here's how.
Read more »
Ogunbowale scores 29, leads Wings to 77-74 win over MercuryArike Ogunbowale scored 29 points to rally the Dallas Wings to a 77-74 victory over the Phoenix Mercury.
Read more »
29 Cute Fall Clothing Pieces Under $50, Because You Spent All Your Money This SummerVacays hurt your bank account, but not indulging in a little fall fashion fun hurts your soul.
Read more »
29 Products For People Who Have A Hate-Hate Relationship With CleaningIf hating cleaning is your entire personality, you'll wanna grab these products to make the process a heck of a lot better.
Read more »
‘Good Morning America’ visits Dallas on Aug. 29 for taco cookoff, with $20,000 at stakeDallas restaurant owners Jesus Carmona and Gustavo De Los Rios will participate in a taco-cooking competition on 'Good Morning America.' The winner goes to...
Read more »