Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The Chilean Ministry of Mining will invest $17bn to develop 18 mining projects in five regions of the country between 2021 and 2023, the country’s mining minister, Baldo Prokurica indicated.


Prokurica’s statement said on September 10 showed that of the 18 projects, eight mining projects are already under construction and the other 10 projects will begin soon, without divulging any more information. He added that these projects will generate 32,956 jobs in Antofagasta, Coquimbo, Tarapacá, Atacama and Valparaiso.


Chile’s mining production increased by 1.2pc but its copper output was down 4.6pc to 467,913mt in July this year, from 490,400mt in July 2019, the National Statistical Institute (Ine) said in a statement on September 1.


Chile’s production of the red metal is slated to reach 5.87mn mt this year, while 2021 output is expected to rise 0.7pc to 5.91mn mt compared to 2020, Cochilco noted. Chile has lowered its price guidance for copper by 45¢/lb to $2.40/lb as an effect of the pandemic on the national copper industry. 

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