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Chile's Codelco promotes October as finest production month this year

Chile's staterun copper business Codelco registered its finest production of the year in October, Chairman Maximo Pacheco said on Thursday.

The world's leading copper miner has actually been struggling to lift output after hitting historical lows in the last 2 years.

Recently, the company reported its production through September had actually fallen 4.9% compared to the exact same period a year earlier.

Pacheco did not information how much production totaled up to in October, however stated it surpassed the exact same month in 2015.

October was the best month in the year so far, he said in a statement. We were able to exceed our monthly production target and also that of the very same month in 2023.

Codelco is aiming for production this year of in between 1.325 million and 1.352 million loads, listed below a preliminary estimate of as much as 1.390 million heaps.

At the same time, Codelco is venturing for the very first time into lithium production, starting with an agreement to get in a. partnership with the world's no. 2 producer SQM in Chile's. Atacama salt flat.

Pacheco said the company required to develop a plan to. lower the extraction of brine, where lithium is found, and. inland waters, to make sure accountable production. He said Codelco. would not use desalinated water transferred to the area.

(source: Reuters)