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 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
CAGR (2024-2030) >2%
Historic Period 2010-2023
Forecast Period 2024-2030
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
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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 (%)

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 (%)

Chile Copper Mining Market Company Insights, 2022 (%)

Download PDF sample brochure:


  • Overview of the Chile copper mining industry
  • Key demand driving factors
  • Historical and forecast data on copper production, production by company and reserves by country
  • World copper prices
  • Profiles of major copper producers
  • Competitive landscape
  • Major operating, explorational and developmental mines

Reasons to Buy

  • In-depth Insights: Gain comprehensive industry insights into the Chile copper mining market and understand the key market drivers influencing production trends, reserves and market dynamics.
  • Strategic market analysis: Access historical and forecast trends on Chile copper production to anticipate market shifts and make forward-looking decisions.
  • Forge valuable partnerships: Identify the leading companies in the Chile copper mining market, including information on their sectors of operation, headquarters location, production capacity and owned copper mines.
  • Uncover major projects: Dive into a detailed overview of major active, explorational, and developmental projects.

Table of Contents


Copper Reserves

Chile Copper Production

Copper Price

Major Active Mines

Major Development Projects

Major Exploration Projects

Competitive Landscape

Demand and Trade

Mining Taxes and Royalties


Development Likelihood

Contact us


Table 1: Copper reserves by country (million tonnes), January 2022

Table 2: Historical and forecast Chile copper production (thousand tonnes), 2006–2026

Table 3: Copper prices quarterly ($/tonnes), 2015–2022

Table 4: Active mines, 2022

Table 5: Development projects, 2022

Table 6: Exploration projects, 2022

Table 7: Copper in the energy transition, 2022

Table 8: Chile copper consumption vs. exports (thousand tonnes), 2006–2026

Table 9: Copper mines and projects by company, by stage, 2022

Table 10: BHP, major projects, 2022

Table 11: Codelco, major projects, 2022

Table 12: Antofagasta plc, major projects, 2022

Table 13: Anglo American Plc, major projects, 2022

Table 14: First category tax, 2022

Table 15: Withholding Tax, 2022

Table 16: Mining tax, 2022


Figure 1: Copper reserves by country (%), January 2022

Figure 2: Historical and forecast copper production (thousand tonnes) vs. number of operating mines, 2006–2026

Figure 3: Production by major company (thousand tonnes), 2020–2021

Figure 4: Copper prices, quarterly ($/tonne), 2015–2022

Figure 5: Global copper demand by end use (%), 2021

Figure 6: Chilean copper exports by country (%), 2021

Figure 7: Chile copper consumption vs. exports (thousand tonnes), 2006–2026

Figure 8: Construction output value ($ billion), 2010–2026

Figure 9: EVs production (thousand units), 2016–2036

Figure 10: Copper mines and projects by company, by stage, 2022

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