Chile Copper Mining Market by Reserves and Production, Assets and Projects, Fiscal Regime with Taxes, Royalties and Forecast to 2030
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Chile Copper Mining Market Overview
The copper production in Chile was estimated at 5,503.6kt in 2023. The growth will be backed by the commencement of new mines and the expansion of existing mines. The country’s copper mine production is anticipated to grow at a CAGR of more than 2% during 2024-2030.
The research report covers Chile’s reserves of copper, historic and forecast trends in the country’s copper production, and the key active, exploration and development copper mines and projects. The report also analyses factors affecting the country’s demand for copper and profiles the major copper producers.
Chile Copper Mining Market Outlook 2023-2030 (kt)
Chile had the world’s largest copper reserves with 190.0kt as of January 2023, accounting for 21.3% of the global total. Significant copper reserves are located at the El Teniente Mine in Cachapoal, the Radomiro Tomic mine in Antofagasta, the Andina mine in Valparaiso, the Los Bronces mine in Santiago and the Chuquicamata Mine in Antofagasta.
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|Market Size (2023)||5,503.6kt|
|Key Countries||Chile, Australia, Peru, Russia, Mexico, United States, and Poland|
|Key Copper Mining Assets||Escondida Mine, Collahuasi Mine, El Teniente Mine, Quetena Project, Quebrada Blanca Phase 2 Project, Santo Domingo Project, La Huifa Project, Lucy Project, Vicky Project, and Los Mantos Project|
|Leading Companies||Codelco, BHP, Anglo American, Antofagasta, Rio Tinto, and Glencore|
|Enquire and Decide||Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase.|
Latest Developments in the Chile Copper Mining Market
- The Quebrada Honda I and II mine in Atacama, which is awaiting regulatory approvals and permissions is wholly owned by Barrow Mining. With an annual copper production capacity of up to 233.7kt and a mine life of up to 25 years, the project is expected to commence operations by 2026.
- The Los Pelambres Expansion project in Elqui, which is majority owned by Antofagasta Plc, is currently undergoing construction. As the end of Q1 2023, the project was 96.2% completed including design, procurement, construction, and commissioning. The project has a high likelihood rating to begin operations in 2023 with an annual copper production capacity of up to 60kt.
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Escondida Mine was the leading active copper mine with the largest copper reserves and production
- Some of the active copper mines in Chile were Escondida Mine, Collahuasi Mine, El Teniente Mine, Los Bronces Mine, Spence Mine, and Andina Mine among others. In 2023, Escondida Mine was the market leading project.
- Some of the major copper mining development projects are Quetena Project, NuevaUnion Project, Los Helados Project, Vizcachitas Project, and Santo Domingo Project among others.
- The key exploration copper mining projects are La Huifa Projecty, Lucy Project, Vicky Project, Los Mantos Project, Merceditas Project, and Jarosita Project among others.
Chile Copper Mining Market Active Mines Insights, 2023 (%)
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Codelco accounted for the largest Chile copper mining revenue in 2022
- Codelco was Chile’s largest copper producer in 2022, followed by BHP and Anglo American. This was primarily due to lower ore grades and lower recovery at Mina Ministro Hales (Division Minister Hales) mine.
- The Codelco is involved in the exploration, development, extraction, and processing of mineral resources. The company produces refined copper in the form of cathodes, copper concentrates, blister and anode copper, and by-products such as molybdenum, silver, copper calcine, anode slime, sulfuric acid, copper cathodes, and wire rods.
Chile Copper Mining Market Company Insights, 2022 (%)
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The report contains an overview of Chile’s copper mining industry including key demand driving factors. It provides detailed information on reserves, production in Chile, production by company, major operating mines, competitive landscape, major exploration and development projects. The report also provide information on country’s mining taxes and royalties.
Reasons to Buy
- To analyze copper mining trends in Chile, relevant driving factors
- To track the latest developments in the copper mining industry
- To identify major active, exploration, and development projects
- To analyze upcoming project developments in the mining industry
- To understand historical and forecast trends on Chile’s copper production.
- To identify key players in Chile’s copper mining industry
Table of Contents
Chile Copper Production
Major Active Mines
Major Development Projects
Major Exploration Projects
Demand and Trade
Mining Taxes and Royalties
Frequently asked questions
What was total copper mining production in Chile during 2023?
The total copper production in Chile was estimated at 5,503.6kt in 2023.
What will be Chile's copper mining market growth during 2024-2030?
The country’s copper mine production is anticipated to grow at a CAGR of more than 2% during 2024-2030.
Which was the most active mine in Chile copper mining market?
Escondida Mine was the leading active copper mine with the largest copper reserves and production.
Which was the leading Chile copper mining company?
Codelco was Chile’s largest copper producer in 2022.
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