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Chile's copper output to increase nearly 4 percent to more than 6 million metric in 2014
Reported by: Associated Press
Reported: Wednesday, January 15, 2014 4:32 PM EST
Chile's copper output will rise nearly 4 percent to more than 6 million metric tons in 2014 due to new investment and higher production at privately controlled mines.
SONAMI mining association president Alberto Salas said Wednesday that Chile's copper production reached 5.77 million metric tons in 2013 and will rise to 6 million this year. He said Chile would export some $45 billion worth of copper in 2014.
Copper accounts for about a third of government revenue, and the state has a policy of shoring up national reserves during periods of high prices.