Rio Tinto cop­per out­put slumps

The New Age (Gauteng) - - BUSINESS -

SYD­NEY: Min­ing gi­ant Rio Tinto re­ported a plunge in its cop­per out­put yes­ter­day as a strike in Chile and In­done­sian reg­u­la­tory changes hit pro­duc­tion. The world’s sec­ond big­gest miner said cop­per out­put slumped 37% in the first quar­ter com­pared with the same pe­riod last year to 84 000 tons. It cited a 43-day strike at the world’s largest cop­per mine – BHP Bil­li­ton’s Es­con­dida in Chile where Rio has a 30% in­ter­est – as among rea­sons for the fall, hav­ing “ad­versely im­pacted” on over­all pro­duc­tion. – AFP

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