Chile copper output to fall 2.6% in 2026 before rebound, Cochilco says
XLB•2026 output seen lower on weak first half and operational restrictions
Chile's copper production is expected to fall 2.6% this year to 5.27 million metric tons before recovering in 2027, state copper commission Cochilco said on Tuesday, pointing to weak output at state miner Codelco and BHP's Chilean operations.
Cochilco said the weaker 2026 outlook reflected an exceptionally poor first half, with lower production at Codelco and BHP's Escondida and Spence, as well as structural restrictions across several operations.
The agency said output should partly recover in the second half, helped by improvements at Codelco's El Teniente, progress at the state miner's Rajo Inca, greater stability at Teck's Quebrada Blanca, normalization at Capstone Copper's Mantoverde and better ore and water conditions at Collahuasi, the mine jointly owned by Anglo American, Glencore and a Japanese consortium.
Los Pelambres, which Cochilco also flagged as a contributor to the 2027 rebound, is operated by Antofagasta.
