During the International Copper Study Group (ICSG) meeting in Lisbon, Portugal last month, the ICSG reported its expectation that, after a decline of 1.5% in 2017, global mine production, after adjusting for historical disruption factors, is expected to grow by around 2% (full year) in 2018 and 1.2% in 2019. The ICSG noted that while 2017 mine production fell owing to significant supply disruptions and a lack of significant projects coming on-stream. However, a recovery in production from Chile and Indonesia, combined with the re-starting of temporarily closed capacity in the Democratic Republic of Congo (DRC) and Zambia, has resulted in a slightly more positive outlook in the immediate short-term.
