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Finance Minister Marcel Marks Turning Point For Copper Production

CHILE
  • The recovery for major equity benchmarks and lower US yields on Wednesday has provided some support for the Chilean peso at the open. USDCLP has dipped around half a percent to 966 with the BCCh minutes on Thursday the highlight on the domestic docket.
  • In local news, Finance Minister Marcel highlighted that "towards the end of last year we had a turning point in copper production, which will be reflected much better in 2024."
    • He highlighted that "in 2024, in the same studies that are cited in the press releases that I saw today, speak of a significant increase in Chile's copper production this year", of the order of 6-7%". According to the head of the Treasury, this "will mean a greater contribution to tax revenue, a greater contribution to the country's exports."
    • "We are precisely in the midst of inflection to recover and begin to grow in terms of copper production, which should continue for all the coming years, given the projects that come into operation," he concluded.

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