Mining in Chile

 

Mining is a part of our national identity, and has been and still is key for the country’s development. Its importance has been notorious throughout our history, and its present and future contribution is undeniable, as it is a long term industry

Investment in exploration in Chile has gone from figures under 100 million dollars a year, to amounts close to 1 billion. This effort has, for example, has enable Chile to keep around 30% of the copper reserves worldwide.


Production and Reserves in Chile, 2015*


“On the other hand, the participation of mining exports in total Chilean shippings still remains the most important in our economy. Copper represents over 90% of the country’s total mining exports, while 55% of exports correspond to mining products.



Copper Production and Prices 2003 – 2016*


Copper Production broken down by Company 2015*


Although impacted by price fluctuations, the participation of mining in the GDP isa round 9%, ranging from minimums of 7% in some years of the 90’s, up to maximums over 20% in some years of the second half of the first decada of this century.


GDP of the mining sector and its participation in the national GDP 2003 – 2016*


Looking forward into the future, a portfolio of mining projects worth 15 billion dollars and projects in evaluation phase for another 35 billion, place the industry at the doors of an important expansion phase that certainly requires overcoming a number of challenges. With regards to this, in recent years, chilean mining activity has shown competitive weaknesses in such issues as a drop in ore grades, availability and cost of energy, availability of water, human capital productivity levels and legal certainty of authorizations. Overcoming these limitations is a challenge so that mining increases its contribution to the country and continues being the driver of national development


(*) Source: Mining Councile, base don information of Cochilco and partner companies

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