Latest news with #AuroraWilliams
Yahoo
5 days ago
- Business
- Yahoo
Top copper producer Chile still without details on U.S. tariffs, officials say
By Fabian Cambero SANTIAGO (Reuters) -Chile's mining minister and the chairman of the world's biggest copper producer, Codelco, said on Wednesday they have not yet received details on 50% copper tariffs due to be imposed by the United States on August 1. "At this point, we're all waiting," Maximo Pacheco, chairman of state-run Codelco, told Reuters. He added that the upcoming tariffs had influenced record U.S. copper prices, and that global economic uncertainty was causing price volatility. Chile, the world's biggest supplier of the red metal, is also the top importer of refined copper to the United States. Mining Minister Aurora Williams, after a meeting with Codelco and other producers, said the government would continue discussions with industry leaders. She declined to comment on whether Chile is developing a counter proposal to present to the United States. Sign in to access your portfolio
Reuters
5 days ago
- Business
- Reuters
Top copper producer Chile still without details on U.S. tariffs, officials say
SANTIAGO, July 23 (Reuters) - Chile's mining minister and the chairman of the world's biggest copper producer, Codelco, said on Wednesday they have not yet received details on 50% copper tariffs due to be imposed by the United States on August 1. "At this point, we're all waiting," Maximo Pacheco, chairman of state-run Codelco, told Reuters. He added that the upcoming tariffs had influenced record U.S. copper prices, and that global economic uncertainty was causing price volatility. Chile, the world's biggest supplier of the red metal, is also the top importer of refined copper to the United States. Mining Minister Aurora Williams, after a meeting with Codelco and other producers, said the government would continue discussions with industry leaders. She declined to comment on whether Chile is developing a counter proposal to present to the United States.
Reuters
10-07-2025
- Business
- Reuters
Trump copper tariffs could help Antofagasta's stalled US project, CEO says
SANTIAGO, July 10 (Reuters) - Chilean copper miner Antofagasta (ANTO.L), opens new tab sees opportunity for its stalled copper project in the U.S. following President Donald Trump's move to impose 50% import tariffs on the metal, CEO Ivan Arriagada said on Thursday. London-listed Antofagasta operates four copper mines in Chile and aims to develop the Twin Metals copper and nickel mine in Minnesota. The project stalled after former President Joe Biden's administration blocked permits over environmental concerns. "We have a project and we see an opportunity in this context to develop it," Arriagada told reporters at an event. He said it would still take years before a final investment decision could be made on the project. "We need to continue working with a long-term perspective." The miner has maintained its current mid-term and long-term sales contracts, without additional copper shipments to the U.S., he added. U.S. companies have been bulking up on copper since Trump in February opened a probe into potential tariffs on copper imports. Chile is the world's biggest copper producer, and also the top copper importer to the U.S. Chilean Mining Minister Aurora Williams, speaking alongside Arriagada, said the government had not yet received precise information about how the copper tariffs would be implemented or which types of copper would be affected. Later on Thursday, she and Chile's Foreign Minister Alberto van Klaveren told reporters they are calling for a meeting next week with Chilean copper industry leaders to discuss the tariffs. Van Klaveren said he expected to receive details from the White House on the scope of the tariffs "in a matter of days," although he said the exact timing was hard to determine.
Yahoo
10-07-2025
- Business
- Yahoo
America's Copper Crisis? Trump Tariff Threat Could Blindside U.S. Manufacturers
The copper tariff drama is heating upand U.S. manufacturers could be the ones holding the bag. If the Trump camp moves forward with a proposed 50% levy on refined copper (not copper products), it's not Chile that paysit's America's own wire, rod, and tube makers. Chile, which supplies roughly 70% of the refined copper imported into the U.S., says it hasn't received formal notice yet. But Mining Minister Aurora Williams made it clear: U.S. manufacturing leans heavily on Chilean copper, prized for its quality and traceability. Santiago is already pushing for an exemption, but for now, the uncertainty is fueling tension across the copper supply chain. Antofagasta CEO Ivan Arriagada added weight to that concern, noting that a tariff would directly pressure American copper product manufacturers. That's a concern, he said on the sidelines of a mining conference in Chile. For Antofagasta, only about 10% of sales go to the U.S., so it's the buyersnot the minerswho could take the biggest hit. With the U.S. sourcing nearly half of its copper from abroad, domestic buyers may have no choice but to eat the higher costs or pass them along to downstream industries. Some may lean on stockpiles temporarily, but that buffer won't last long if tariffs go live. That mattersa lot. Especially in a market where copper isn't exactly in surplus. Arriagada warned that volatility could rise, even without policy shocks, due to lingering supply tightness. For copper-reliant companies like Tesla (NASDAQ:TSLA), any input cost increaseeven if short-termcould squeeze margins or force supply chain pivots. As talks between Chile and the U.S. continue, investors would be wise to monitor not just the tariff headlines, but also how they ripple through critical sectors tied to electrification, infrastructure, and industrial reshoring. This article first appeared on GuruFocus.
Yahoo
10-07-2025
- Business
- Yahoo
America's Copper Crisis? Trump Tariff Threat Could Blindside U.S. Manufacturers
The copper tariff drama is heating upand U.S. manufacturers could be the ones holding the bag. If the Trump camp moves forward with a proposed 50% levy on refined copper (not copper products), it's not Chile that paysit's America's own wire, rod, and tube makers. Chile, which supplies roughly 70% of the refined copper imported into the U.S., says it hasn't received formal notice yet. But Mining Minister Aurora Williams made it clear: U.S. manufacturing leans heavily on Chilean copper, prized for its quality and traceability. Santiago is already pushing for an exemption, but for now, the uncertainty is fueling tension across the copper supply chain. Antofagasta CEO Ivan Arriagada added weight to that concern, noting that a tariff would directly pressure American copper product manufacturers. That's a concern, he said on the sidelines of a mining conference in Chile. For Antofagasta, only about 10% of sales go to the U.S., so it's the buyersnot the minerswho could take the biggest hit. With the U.S. sourcing nearly half of its copper from abroad, domestic buyers may have no choice but to eat the higher costs or pass them along to downstream industries. Some may lean on stockpiles temporarily, but that buffer won't last long if tariffs go live. That mattersa lot. Especially in a market where copper isn't exactly in surplus. Arriagada warned that volatility could rise, even without policy shocks, due to lingering supply tightness. For copper-reliant companies like Tesla (NASDAQ:TSLA), any input cost increaseeven if short-termcould squeeze margins or force supply chain pivots. As talks between Chile and the U.S. continue, investors would be wise to monitor not just the tariff headlines, but also how they ripple through critical sectors tied to electrification, infrastructure, and industrial reshoring. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
