Energy shortages in Chile may force the country to ration electricity to some of the country's mines, industry experts have warned.
Along with a decline in gas from Argentina, the world's largest copper producer is suffering from droughts which have cut hydropower output.
Speaking to Bloomberg, UK-based consulting company CRU says power cuts or blackouts in Chile may push copper above its March record of US$8,820 a metric ton in London, up more than 3.3 percent from the current price.
Another analyst has warned the country may be forced to "limit power use for the first time since 1999", Santiago stock broker BanChile Corredores de Bolsa told the newsgroup.
Mines in central Chile, owned by state-run copper producer Codelco, Anglo American, Antofagasta and Freeport-McMoRan Copper & Gold, are likely to be particularly affected by electricity cuts.
By staff writer
