The economy of Chile is one of South America’s most stable and prosperous, with the highest nominal GDP per capita in Latin America, and the mining sector is one of the pillars of the Chilean economy. The Chilean government strongly supports foreign investment in the sector and has modified its mining industry laws and regulations to create a favorable investing environment for foreigners.

In recent decades, mining activity has led Chile’s economic growth. Mining projects are not seen as isolated enclaves but as active promoters of regional development and generating new sources of employment. Increased investment in exploration and mining stocks, greater output and exports of mineral products and their derivatives have been the key factors that have contributed to the development of communities. Thanks to large copper resources, progressive legislation and a healthy investment environment, Chile has become the copper-mining capital of the world. In the past two decades, Chile has consolidated its position as world leader in copper production, raising its global market share from 17.7% in 1990 to 34.2% in 2011. Other minerals are also receiving increased attention, including lithium, rhenium, molybdenum, silver and gold. Chile was also one of the world’s significant producers and exporters of potassium nitrate and sodium nitrate and ranked second after Japan in world production of iodine.

Over the next four years, there will be a substantial increase in silver, copper and, especially, gold output. Moreover, Chile is one of the most significant producers of arsenic, boron, refined selenium, pumicite, sulfur, salt and diatomite. However, the Chilean mining industry needs to face certain challenges including access to water, energy and the lack of qualified personnel.