Chile copper output fell 7.7% in Q2 to 1.27 million metric tons, the weakest second quarter since 2007. Codelco declines and mine issues tighten global supply.
Chile
Key Facts
—Q2 production Chile’s second-quarter copper output fell 7.7% year-on-year to 1.27 million metric tons, the weakest Q2 since 2007.
—Codelco’s Q1 decline Codelco’s output dropped 8.1% year-on-year in Q1 2026 to 272,000 tons, with El Teniente plunging 26%.
—Global share Chile accounts for roughly 22% of global mine output, meaning its shortfall materially tightens the world copper balance.
Codelco said its own production reached 272,000 fine metric tons in the first quarter, an 8.1% fall from the same period of 2025
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