PUBLICATION

Global Business Reports

AUTHORS

Mungo Smith, Mariolga Guyon, Natalia Preciado, Maeve Flaherty

Chile Mining 2023 Pre-Release

April 18, 2023

2022 was a tumultuous year for the mining industry and Chile overall. A new constitution, which would have had a dramatic and negative impact on the mining industry, went to a public referendum and was rejected. Entering 2023, the proposed royalties bill, expected to increase taxes on the industry, entered discussion in the Senate, where recent announcements have confirmed that the bill will be reduced. Under political pressure from the government, the mining industry and the country at large have repeatedly demonstrated that the country does not seek transformational change, while the government has begun to show a new understanding of the importance of mining to the Chilean economy.

Opportunities for the industry abound. After multi-year delays in the announcement of an official lithium framework that prevented investment in the Chile’s lithium industry, the government has signaled the official release of a regulatory framework. This will open the industry to a flood of investment, enabling Chile to be a world leader in the energy transition. Already, the country has taken a leadership role in renewable energy production, reflecting a push within the mining industry to decarbonize and operate sustainably.

This pre-release of GBR’s Chile Mining 2023 report comprises interviews with the leading executives from across the Chilean mining value chain, providing a holistic overview of changes occurring in the country, how those changes are impacting the mining industry, and perspectives on the future of the Chilean mining over the next several months.

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MACIG

"With mining companies currently enjoying high prices, exceptional production performance and robust supply chains, we anticipate that the sector will continue showing resilience and growth, remaining financially sound in 2023."

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