Copper is Chile's largest export (Photo: Reuters/Ivan Alvarado)

Copper is Chile's largest export (Photo: Reuters/Ivan Alvarado)

Chile is facing a widespread port strike which is affecting the South American country's number one export; copper.  According to reports, Codelco has been affected to the tune of $130 million.  In 2011, a one-day strike cost Codelco roughly $40 million.  The company uses the San Antonio Port to ship sulphuric acid from the south for use in copper cathode production in the north.

Angamos is another port which handles Codelco's copper cathode shipments from the Chuquicamata, Gaby and Radomiro Tomic mines.  Other mines affected are BHP's Escondida mine.

Codelco holds roughly 11% of global copper in reserves and Chuquicamata represents the worlds largest operating open-pit copper mine, reaching a depth of over 850m.

Fruit exporters are also being hit hard, especially given the fact their product spoils.

Read: Exporters on high alert as strikes hit Chile’s ports once again