Market Watch reported that the value of Chile's copper exports in June fell to USD 3.83 billion from USD 3.91 billion during the same month of 2011.

The central bank said that Chile is the world's largest copper mining country, producing a third of global supply. The Andean nation's mining industry represents about 15% of the country's gross domestic product.

According to state copper commission Cochilco's market data, the drop was due to copper fetching an average USD 3.37 per pound in June versus the USD 4.10 per pound it averaged in June 2011.

Copper prices on international markets have retreated in recent weeks, as have those of other commodities amid the uncertainty regarding the future of the euro zone.

The nation's overall mining exports, including molybdenum, iron, silver, iodine and lithium fell to USD 4.18 billion in June from USD 4.25 billion the same month a year earlier.

In 2011, the value of Chile's copper exports rose 6% on the year to USD 42.63 billion while the value of its mining exports grew 9% on the year to USD 48.15 billion.

Source - Market Watch.com

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