- Write by:
-
Thursday, November 23, 2017 - 3:08:36 PM
-
1396 Visit
-
Print
Mining News Agency - In a country like Chile, where lithium and copper resources abound, it is no surprise that mining is one of the largest industries. In fact, mining, manufacturing and oil and gas make up 35 percent of the country’s GDP. Within that, it is copper exploration and production that sits at the forefront of the country’s mining industry.
Mining News - If one were to ask where the homestead of copper production is located, all fingers would point to Chile. The top copper producer in the world, the country hosts many notable copper miners, including Antofagasta Minerals and BHP Billiton and there has been significant exploration and production in the region for decades.
Chile’s copper production is mostly based in the northern region of the country, and comes primarily from porphyry copper deposits that are rich in molybdenum, gold and silver by-products. In 2016, despite strikes and protests at some key mines, as well as disruptive weather, Chile was still able to produce 5.5 million tonnes of copper. Forecasts for 2017 show estimated output of another 5.6 million tonnes, indicating the consistency of the country’s resource.
In the midst of rising copper prices and predictions of an upcoming deficit in the market, Chile is still considered a primary target for exploration, and the country expects $65 million in mining-related investment over the course of the next decade, with 90 percent of that dedicated to copper projects. Several new projects will be exploration initiatives conducted by junior companies like Chilean Metals.
Chilean Metals Chairman Terry Lynch said that “We believe that for copper, Chile is the number-one spot on the planet to explore and develop a copper mine. The country has a historical track record of being the best spot to explore copper in the world.”
Chile is the most favorable jurisdiction in South America. It has a long history of strong mining laws and is very mining friendly, especially for foreign companies.
Short Link:
https://www.miningnews.ir/En/News/66767
Europe’s largest copper producer Aurubis AG reported first-half core profit above expectations on Wednesday, helped by ...
Copper briefly traded through $10,000 a ton as investors raised bets on Federal Reserve rate cuts, and Goldman Sachs ...
BHP’s plan to divest the South African assets of its target Anglo American are key to the strategy behind the proposed ...
First Quantum Minerals said on Monday it is looking forward to talks with Panama’s new government to find a resolution ...
The chairman of Chile’s state-run copper giant Codelco said on Monday that he expects to reach a lithium deal with ...
Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about buying a stake in ...
Central Puerto SA, Argentina’s biggest power supplier, is in talks to invest in Canadian miner McEwen Copper Inc.’s Los ...
Peru’s dented mining mojo, hit by years of political turmoil in the Andean country, is being buoyed by strong copper ...
Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time ...
No comments have been posted yet ...