Chile Copper Supply Gains Seen Years Away, Mining Council Warns
Copper anodes are loaded for shipment at a copper facility in El Olivar, Chile.
Photographer: Cristobal Olivares/BloombergThe pro-growth agenda of Chile’s incoming government could bring forward new copper supply, but any meaningful production increase will still take years to materialize, Chile’s Mining Council warned.
The association representing local units of global mining heavyweights such as BHP Group and Anglo American Plc is very much aligned with President-elect José Antonio Kast’s pledges to accelerate investments by making permitting easier to navigate. Kast’s team has said mining output could rise as much as 20% over the next year or two, giving a much needed boost to a tight market.