Copper mines halted

Santiago
Codelco and Antofagasta PLC suspended operations at two major copper mines in Chile, the world's top producer of the metal, after a powerful earthquake struck off the coast on Wednesday, threatening over 600,000 tonnes of annual capacity. Copper prices on the London Metal Exchange rose to two-month highs in early Asian trading as worries about supply disruptions offset lingering concerns over demand from China, the world's No. 1 consumer, amid copper's longest rout in years.
State copper miner Codelco halted open-pit operations at its large Andina mine and evacuated workers at its smaller Las Ventanas refining and smelting division, as well as at the two northern ports of Mejillones and Barquito, as a precautionary measure. Andina produced 232,000 tonnes of copper last year.
Antofagasta said it had temporarily closed its flagship Los Pelambres mine, which produced over 400,000 tonnes of copper in 2014, and would wait until daybreak to assess the damage.