Chile mining sector continues to lag on growth
Codelco’s Chuquicamata is the world’s largest open pit copper mine. (Image courtesy of )
Chile’s economic activity rose 2.3% in May from the same month a year ago, the central bank said on Friday, as the top copper producer´s crucial mining sector continued to lag.
The IMACEC economic activity index encompasses about 90 percent of the economy tallied in gross domestic product figures.
Mining activity in May dropped 2.3% compared with the same month in 2018 as the sector continued to confront sharply falling ore grades at its largest deposits.
Non-mining activity grew by 2.8%, the bank said.
(By Dave Sherwood; Editing by Chizu Nomiyama)
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