Heavy rains shut Chile's El Teniente copper mine

2016-04-19 11:56
View of stones on the road after a quake in Iquique, 1 800km north of Santiago, Chile. (Aldo Solimano, AFP)

View of stones on the road after a quake in Iquique, 1 800km north of Santiago, Chile. (Aldo Solimano, AFP)

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Santiago - Chile's state-run mining company Codelco says that operations at its El Teniente copper mine will be suspended for six days due to torrential rains over the weekend that caused heavy flooding.

The world's top copper producer says it expects to restart operations on Thursday. It estimates its losses at about 1 500 metric tons of copper each day that the mine is halted.

The company has also been hard hit by lower prices and demand for copper after an economic slowdown in China as well as dwindling ore grades.

The rains that began on Saturday also caused the Rio Mapocho to flood several areas of the capital city causing power outages and landslides. Schools were cancelled and water service was cut to 4.5 million people around Santiago.

Read more on:    codelco  |  chile  |  floods

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