PUBLICATION

Global Business Reports

AUTHORS

Ben Cherrington, Lucrezia Falcidia, Jason Spizer, Mariolga Guyon

Chile Mining 2020 EXPOMIN Official Investment Guide

April 09, 2020

After an unusually tumultuous 2019, things looked promising for Chile’s mining industry at the beginning of 2020, as the copper price reached US$2.80/lb on the back of improved trade relations between the US and China. The general sentiment was that the global economy was on the mend, however, these dynamics have since shifted drastically as the novel coronavirus spread around the world. As a result of government enforced lockdowns on a global level, movement and commerce have come to an abrupt stop. Consequently, demand for most metals has fallen substantially.

This is a profoundly complicated problem for Chile at a time when the country is depending on its trusted mining industry to bolster its economy and lead it out of social crisis. Across the value chain, both local and international companies are eager to deploy the latest technologies and engineering to capitalize on a wealth of opportunities in copper, gold and lithium. While the full impact of the pandemic on the Chilean mining industry has yet to be seen, how the country navigates this challenge to remain one of the leading mining jurisdictions will be fundamental to its recovery and future growth.

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Chile Mining 2024 Pre-Release

The Chilean mining renaissance has begun. In 2024, the country is set to experience its first increase in copper production since 2018, driven by Codelco’s production surge and Teck Resources’ Quebrada Blanca II coming online. This year also saw the first major regulatory update since 1983 with amendments to Law No. 21,420, which modernized the mining framework. The government has shown strong support for the industry by committing to reduce permit processing times by a third and proposing 20 actionable measures to streamline processes. Additionally, Chile classified its 69 saline environments, leaving 31 open for private development and initiating a request for information process in April to rapidly advance these areas.

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MACIG

"We plan to double our copper production by the end of the decade. There remains significant upside potential in the gold industry, and the copper operations are strategic and additive to that."

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