Chile’s major copper producers have managed to cut production costs in the first half of 2025, marking a significant shift after several years of rising expenses, according to new data from the Chilean Copper Commission (Cochilco).
In its latest report, Cochilco said that direct production costs at the country’s large copper mines fell to $1.767 per pound, down from $1.912 per pound during the same period in 2024. The decline reflects lower treatment and refining charges as well as higher gold and silver prices, which rose by 39% and 26%, respectively, during the first half of the year.
The London Metal Exchange (LME) price for copper also increased by 15.4% over the same period, boosting revenues for Chilean miners even as operational expenses eased.
Cochilco’s analysis covered 21 copper mining operations, representing about 94% of Chile’s total copper output. The commission said the cost reductions underscore improving efficiencies in the world’s top copper-producing nation — a welcome relief as global demand for the metal continues to grow amid the energy transition and infrastructure expansion.
