Chile raises copper price, output forecast for 2013

Reuters

LONDON, Oct 8 (Reuters) - Chile will produce about 5.7million tonnes of copper this year, an almost 5 percent increaseon last year and a historic high, above previous estimatesthanks to better output forecasts from key mines includingEscondida, the world's largest, the country's mining ministersaid in London on Tuesday.

State copper commission Cochilco in July had forecast theworld No. 1 copper producer's red metal output would reach 5.53million tonnes this year.

The country also marginally raised its view for 2013 averagecopper prices to $3.32 per pound above the $3.27 per poundestimated earlier in the summer, after a better than expectedperformance in world markets during the third quarter.

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