Although Chile leads in exploration at the regional level and is ranked fourth globally, being surpassed by the US, Canada and Australia, copper production has stagnated in the world’s largest producer of the metal. In 2022, 5.33Mt of copper was produced, a drop of 5.3% compared with the previous year, including 1.4Mt by state-owned Codelco whose output was down 10.7%. Production reached a peak of 5.83Mt in 2018.
https://www.bnamericas.com/en/analysis/spotlight-the-challenges-facing-mineral-exploration-in-chile
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