Green economy good news for copper producers: Antofagasta chairman

[LOS PELAMBRES MINE] The global fight against climate change will boost demand for copper, a key metal used in the production of electric vehicles, Antofagasta chairman Jean-Paul Luksic said on Wednesday.

Mr Luksic, speaking to reporters at Antofagasta's Los Pelambres mine in north-central Chile, said the global "green economy" would put Chile, the world´s top producer of the red metal, at a strategic advantage over the competition.

"We're the world's top producers of copper, but also...we have the world's largest known reserves", he said.

Mr Luksic added that Antofagasta had committed to reducing its production of greenhouse gases by 300,000 tonnes by 2022, and said the company was shifting its energy supply to more renewable sources in order to achieve that goal.

Antofagasta began construction of a major infrastructure project at Los Pelambres on Wednesday, which the company said will allow it to boost production by 15 per cent.

REUTERS