The buyer is on his way to earn weekly profits after a mine in the collapse in Chile

Copper prices are on their way to recording weekly profits, at a time when traders keep the consequences of the biggest closure of a Codelco business in Chile, to a fatal accident. The seismic event that has caused the activities of the ‘El Teniente’, one of the largest underground copper mines in the world, since July 31, is likely to be caused by mining activities and not by nature factors, according to a person who is directly familiar with the matter. A strong tremor in the mining sector This collapse has shaken the pillars of the mining sector in Chile, which usually designs its projects to endure regular earthquakes that can sometimes be disastrous. The accident comes in a time when copper supplies slow down, causing the global mosque to reduce the production of the refined metal needed to support the green transformation. Also read: Chile increases her expectations for copper prices by twice the offer, the state enterprise of Codelco company has applied to request the resumption of the work within some parts of the mine, pending the end of the investigation into the causes of the accident. Copper prices Today, the copper price rose 0.2% to $ 9707.50 per tonne on the London Metal Stock Exchange at 11:49 pm Shanghai, which extends its weekly profits to 0.8%. On the other hand, the price of iron ore fell 0.5% to $ 101.70 per tonne in Singapore, amid investors’ expectations to reduce steel production in northern China, the largest rural country for metal, before a military parade is planned for September 3.