Deadly Collapse Halts Operations at El Teniente Mine

In a tragic turn of events, Chilean Mining Minister Aurora Williams announced the suspension of operations at El Teniente, the world's largest underground copper mine, following a deadly collapse. The incident, which occurred on Thursday, was triggered by a magnitude 4.2 earthquake leading to a landslide within the mine's depths.

Impact on Global Copper Supply

The temporary shutdown of El Teniente, which contributes nearly 7% of Chile's copper production, could have significant implications for the global copper market. This development comes at a time when copper futures have already experienced a sharp decline, plummeting over 18% in a volatile week for global markets.

Minister Williams described the incident as a "major mining accident," emphasizing the gravity of the situation during her visit to the site. The collapse has left one worker dead, nine injured, and five others missing, prompting immediate action to ensure safety and assess the damage.