Chile is the world’s largest producer of Copper, with a share of over 7% of the global output. And the country was badly hit few days back by a massive 8.8 magnitude earthquake. The earthquake has killed nearly 1000 people and has also pulled down over one hundred thousand buildings across key locations.
The power supply lines have been destroyed in many parts of the country, and due to that the largest mines of Chile have been able to re-start production only at lower capacity yesterday. It may take at least another two to four weeks for these mines to get back to reasonable production levels.