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LatinNews Regional Monitor: Brazil & Southern Cone - 5 March 2019

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In brief: Chile

* Chile’s copper commission (Cochilco), the sector regulator, has released a new report which shows that the country produced a record 5.83bn tonnes of copper in 2018, a 6% year-on-year increase. The Cochilco report also notes that the record production and the higher international price of copper translated into the copper mining sector contributing US$2.39bn in taxes to the state, a 90.1% increase compared with the previous year. These figures don’t include the revenue produced by the state-owned copper mining firm Codelco, which contributed US$1.74bn to state coffers last year, a 26.1% increase. In sum, the Cochilco report highlights that the total level of economic benefit produced by the copper mining sector for the state in 2018 totalled US$4.13bn.