Chile’s Codelco, the world’s largest copper producer, on Friday posted a 8.4% drop in output for the first half of 2024 compared with the same period last year, to 579,785 metric tons, citing operational setbacks and difficult weather.

The company attributed the lower output to an extended truck stoppage following a fatal accident at its Radomiro Tomic mine, low contributions from El Teniente after a rock burst last year, ramp-up delays for Rajo Inca and adverse weather.

The state-owned miner said its pre-tax profit from January to June totaled $653 million, against a loss of $316 million in the same period last year.

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