The president of Chile’s National Mining Association (Sonami) has forecast that the world’s No. 1 copper mining nation would witness a record increase in production by more than 5% in 2014. In all, according to Sonami Chairman Alberto Salas, Chile will surpass 6 million metric tons (mt) of copper production this year, with exports exceeding $45 billion.

“We will have a significant increase in supply due to new projects coming online, such as Ministro Hales and Sierra Gorda, and improved operations at existing mines,” Salas said. Sonami said that total 2013 production should amount to 5.8 million mt, which represented a 315,000 mt increase over 2012.