Copper mining is one of the largest industries in Chile

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.