- Production declines across major copper producers in Chile, Peru, and the Democratic Republic of the Congo are impacting the global copper market.
- Morgan Stanley analyzes mine supply trends and production declines involving Codelco in Chile.
Kinross Gold cuts production guidance amid operational issues in northern Chile
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
Kinross Gold cut its 2026 and 2027 production guidance, citing weather and recovery issues at La Coipa and lower mining rates and recoveries at Round Mountain. The company now expects 1.84 to 1.86 million gold-equivalent ounces for those years, which is below prior guidance and consensus estimates. Additionally, Kinross Gold raised its 2026 cost guidance for sales and all-in sustaining costs.
Why it matters
The production declines across major copper producers in Chile, Peru, and the Democratic Republic of the Congo are already impacting the global copper market. The operational issues reported by Codelco and Kinross Gold in the northern Chilean mining sector add to broader concerns regarding mine supply trends.
Morgan Stanley analyzes mine supply trends and production declines involving Codelco in Chile.
Who's involved
- CodelcoChilean state-owned copper mining company facing shared operational issues.
- Kinross GoldGold miner that cut production guidance and reported operational issues in Chile.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Lundin MiningSpeculative
Lundin Mining might face increased costs or reduced demand for gold due to peer production guidance cuts.
How this reaches others
Each traced step by step, with the reporting behind itKeep exploring
The entities involved
-
Codelco
Chilean copper company
Nothing else this week.
-
Kinross Gold
company
Related events
- Codelco is Chile's state-run copper company, and the Spence mine is located in Chile.
- A mine incident and export ban are impacting global copper supply and market prices.
- Industrial disruptions affect global supply chains, including Freeport's Gresik smelter outage and DRC export bans impacting Chinese smelters.
- Codelco signed a five-year agreement with Canadian entities to deepen cooperation on critical minerals and investment in Chile.