1 Mar 2010

Quake dents copper output

7:12 am on 1 March 2010

Uncertainty over the impact Chile's earthquake will have on copper production is likely to mean higher prices. Chile is the world's biggest copper miner.

Production at four major mines was suspended after the magnitude 8.8 earthquake on Saturday - affecting around 20% of the country's capacity.

Chile's mining minister said production could take two days to resume.

The BBC reports other factors such as transport and power supplies, could slow the production process.

On Friday, the main three-month copper contract closed at $US7,195 per tonne.

One Singapore trader was quoted saying the price could rise to $US7,400.