PUBLICATION

Global Business Reports

AUTHORS

Mungo Smith, Mariolga Guyon, Maya Ordoñez

Chile Mining 2024 Pre-Release

May 22, 2024

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.

Reforms and innovations are set to revitalize the sector, positioning Chile as a leader in the global energy transition. This pre-release edition of Chile Mining 2024 offers in-depth analysis and insights based on nearly 100 interviews with executives from major producers, associations, juniors, consultants, investors, and service providers, providing a comprehensive overview of the transformative changes and future opportunities in the Chilean mining industry.

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MACIG

"We expanded our business in West Africa and built our largest mine to date at a time when the markets were risk averse. Being counter-cyclical takes both discipline and guts, but it pays off and we are now reaping the benefits."

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