Codelco chairman says April copper output up, sees strong US and China demand

Fabian Cambero and Daina Beth Solomon

Tue, Apr 29, 2025, 3:55 PM 2 min read

By Fabian Cambero and Daina Beth Solomon

SANTIAGO (Reuters) -Copper output from Chile's state-run Codelco roseate 22% successful April compared to the aforesaid play a twelvemonth before, with an expected output of 105,000 metric tons, Chairman Maximo Pacheco said connected Tuesday.

The world's largest copper shaper somewhat recovered past twelvemonth from a quarter-century accumulation low, and is aiming to summation its output erstwhile much this year.

Pacheco told an yearly shareholders gathering connected Tuesday that request is beardown for the reddish metal, adjacent arsenic helium acknowledged geopolitical tensions associated with entree to captious minerals.

"The marketplace looks good, it looks precise beardown successful Asia, successful China, successful the United States, successful Brazil," helium said.

Codelco antecedently said uncertainty astir U.S. tariffs imposed by President Donald Trump's medication had prompted much copper shipments to the United States. He besides noted that helium was seeing much request from China successful the 2nd quarter.

Pacheco said helium has been moving to beforehand the operation of a caller copper smelter successful Chile, and that Codelco has offered to proviso 1.2 cardinal tons of copper annually successful a 20-30 twelvemonth declaration arsenic an inducement to investors.

Pacheco besides discussed Codelco's efforts to participate the lithium concern successful Chile, which is the world's 2nd biggest shaper of the artillery metal.

Pacheco said helium is optimistic astir securing the support of China regulators for a associated task with lithium shaper SQM astatine the Atacama brackish flat, though helium said the timeline is unclear.

China is the past state whose regulatory support is needed for the partnership, which volition people the Chilean state's introduction into lithium production.

Codelco has already done its portion to supply China with each required materials astir the planned operation, Pacheco said.

Codelco besides aims to participate the lithium concern with a caller task successful Chile's Maricunga brackish flat. Pacheco said a spouse volition beryllium named wrong the coming weeks oregon months, aft Codelco received binding offers from planetary companies successful March.

(Reporting by Fabian Cambero and Daina Beth Solomon; Editing by Alexander Villegas and Daniel Wallis)