Chile’s President Says Codelco Output to Grow: Touts Investment Climate


Chile’s President Gabriel Boric spoke at a big copper industry event, saying he expects the state-run miner Codelco to slowly increase production this year. He predicted it would reach 1.7 million metric tons by 2030 and mentioned a likely rise in copper prices.

Boric’s remarks were unexpected at the CESCO Week conference, where top copper industry leaders meet. He addressed concerns about delays in approving new mines, promising to speed up the process in Chile. He also emphasized the importance of sharing mining profits with local communities.

Boric highlighted Chile’s commitment to providing a stable environment for investors, saying clear rules and trust are crucial for long-term mining projects. He received applause when he stressed that this approach should continue regardless of who is president.

He mentioned Teck Resources’ investment in the Quebrada Blanca copper mine, despite facing challenges in getting started. Boric also discussed government efforts to increase lithium production through partnerships between the public and private sectors.

He mentioned that Chile has started a process to attract more private investment in the lithium industry, expecting production to double in the next decade.


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