CHILE TO INVEST $83.18 BILLION THROUGH 2033
Chile plans to invest around $83.18 billion from this year to 2033, a 27% increase from last year’s estimate, according to a state-run agency’s report.
The Cochilco report, to be presented on Wednesday, will outline 51 projects in the country, which is the world’s largest producer of copper and second-largest producer of lithium.
The spending increase is driven by 11 new projects, including expansions of Freeport-McMoRan’s operations, Anglo American’s work in Los Bronces, and improvements at state-owned miner Codelco at Chuqui Subterranea and a Codelco lithium project at Maricunga salt flat.
About 52% of the total spending, valued at $42.96 billion, is allocated to projects scheduled to take place between 2024 and 2026. This could be further increased as it does not include a recently announced $14 billion expansion plan by mining giant BHP.
