Mining operations were suspended at two major copper mines in Chile after a magnitude 8.3 earthquake struck off the coast of the country on Wednesday, killing at least five people and slamming powerful waves into coastal towns.
The closure of the mines, operated by Codelco and Antofagasta (LON:ANTO), pushed copper prices on the London Metal Exchange to two-month highs in early Asian trading as worries about supply disruptions offset lingering concerns about demand from China amid copper's longest rout in years.
The companies said no damages have been registered at the mines, but operations were cancelled for safety reasons as several aftershocks, including one at magnitude-7 and four above 6, shook the region after the initial earthquake.
Chile is one of the most earthquake-prone nations in the world. It was hit by an 8.8-magnitude quake in 2010 and in 1960 recorded the largest ever on Earth, according to the Geological Survey.
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