Chile Lowers Copper Production Outlook, Raises Price Forecasts

Chile, the world's top copper producer, on Wednesday lowered its production outlook for 2023 amid uncertainties in the global market and rising costs, while also raising price forecasts. The South American country's mining ministry said that it expects production of the metal to decline by about 1% this year, down from a previous estimate of an increase. The ministry cited factors such as lower grades, higher energy prices, and less available labour in its revised outlook. "The global economic environment is challenging, with inflationary pressures persisting and uncertainty around key marke…