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BHP reduces copper output outlook in Chile protests and environmental concerns

BHP reduces copper output outlook in Chile protests and environmental concerns

April 21 (Reuters). BHP Group Ltd. (BHP.AX), a company that produces copper, has lowered its annual production outlook for 2014. This was due to protests by workers and environmentalists as well as labour shortages resulting from rising COVID-19.

Chile, the world’s largest copper producer, sued BHP and other miners earlier this month over environmental damage caused by its operations on the Atacama saltflats. Continue reading

Along with road blockades and threats of work stoppage due to alleged worker contract violations, the project has seen an increase in COVID-19 infections at Escondida, which has affected production. This is the largest copper deposit in the world. Continue reading

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The miner stated in its third quarter production report that “our Chilean assets experienced a difficult operating environment in March 2022 quarter as a result a reduction of our operational workforce due to a significant increase COVID-19 in Chile.”

Copper production from Escondida now is expected to be between 1,000 million tonnes (kt), 1,030 kt (2022), down from its earlier range of 1,020kt to 1,080kt. This results in a slight downgrade in total copper output forecast to be between 1,570kt and 1,620kt.

This year’s copper production has been 1,112 kt, which is 10% less than last year. Its third quarter iron ore output from Western Australia was flat, which was below consensus estimates. Continue reading

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Reporting by Sameer Mancekar in Bengaluru; Editing done by Sherry J-Phillips

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