Chile is facing increasing difficulties in keeping up with ever-growing energy demand from major copper producers. Some mining groups may be pushed to secure their own energy needs as Chile remains one of the most lucrative site for copper producers.
Profit-taking is pushing down copper prices, which have gained amid stronger manufacturing data worldwide. Market focus is now on a possible merger between Glencore International and Xstrata.
The still-sluggish economy will challenge copper producers in 2012, but they continue to race to raise output as demand is seen to outstrip supply.
It has been a roller-coaster year for copper, rattled by the Eurozone crisis and a slowdown in China. But supply remains tight as output is shaky.
Platts reported that SONAMI sees Chile's 2012 copper production at 5.5 million tons.
Reuters reported that Aurubis AG (ETR:NDA) is looking for copper acquisitions and maintaining high production.
Bloomberg reported that production at Codelco's mines in Chile is up through September 2011.
Mineweb reported that first copper production has been delivered at the newly expanded Los Bronces mine, owned by Anglo American (OTC Pink:AAUKY).
With its Rock Creek mine one step closer to becoming a reality, the outlook for Revett Minerals looks bright in the eyes of analysts and executives.
The Eurozone's woes continue to keep copper prices down, but optimism prevails as many analysts see global demand rising over the next year.
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