Minería, Sin categoría

Chile: Copper Leadership with Mining Investment Challenges

Vortex-ing is preparing to stand out at EXPONOR 2024Although the latest Cochilco study places Chile as the main producer of
copper in the world with a 25% share, Sonami warns of the fall
in mining projects and the urgent need to expedite permits.

The Chilean Copper Commission (Cochilco) recently presented the study “Mining Investment Portfolio and Copper Production Projection in Chile 2023-2032”, which highlights that the portfolio of mining projects in Chile for the aforementioned period totals an investment of US$65.7 billion and includes initiatives for copper, gold, iron, lithium and other industrial minerals.

Patricia Gamboa, director of Studies and Public Policies at Cochilco, stated that Chile will maintain its leadership in terms of mining investment and copper production in the next decade. The country is expected to continue being the main copper producer in the world, with a 25% share by 2034 and an estimated production of 6.43 million tons in that year.

However, during the presentation of the study, Jorge Riesco, president of the National Mining Society (Sonami), expressed concern about a new decrease in investment projects in the mining industry. According to the Cochilco report, there has been a drop from 53 to 49 projects and a reduction in the total amount of investments of approximately 11% compared to 2023.

These figures reflect the urgent need to streamline the processes to obtain permits and authorizations, in order to stimulate investment and reactivate the development of new mining projects in Chile. Despite the challenges, the Chilean mining industry remains a fundamental pillar of the country's economy and is expected to continue playing a key role in the years to come.

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