Mining - Chile - Report: Problem at Escondida SAG mill could cause 10% output drop

Chile's Escondida, the world's largest copper mine, has had a technical failure at its SAG mill that could cost the mine roughly 10% of its annual production, Reuters reported.

Escondida's controller, BHP Billiton (NYSE: BHP), was not available to confirm the information.

The report quoted an Escondida spokesperson as saying the problem with the SAG mill would likely cause a 15% decline in the mine's annual concentrate production, which equals roughly 10% of the operation's yearly fine copper output.

Escondida produced 725,177t of copper in this year's first half.

BHP Billiton (NYSE: BHP) has 57.5% of the mine, leaving 30% in the hands of Rio Tinto (LSE: RIO), 10% with Japan's JECO corporation and 2.5% with the World Bank'sInternational Finance Corporation.

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