Chilean Minister Announces Plan to Restore Copper Production to 6 Million Metric Tons
Chilean Minister of Mining and Economy Daniel Mas stated that the country could return to producing about 6 million metric tons of copper per year. At the same time, the state-run copper commission Cochilco forecasts a decline in production to 5.27 million metric tons in 2026, according to The Rio Times.
According to Cochilco, Chile produced 5,415,200 metric tons of copper in 2025, which is 1.65% less than the previous year. According to Masa, production volumes in recent years have ranged from 5 million to 5.5 million metric tons per year. For comparison, in 2018, the figure reached 5.8 million metric tons.
According to Cochilco’s ten-year forecast, production could decline to 5.43 million metric tons in 2030 and then rise to 6.06 million metric tons in 2033. In 2034, the commission expects production to reach approximately 5.86 million metric tons. Thus, according to the current forecast, production levels of 6 million metric tons are only possible in the 2030s.
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To accelerate the implementation of new projects in Chile, Framework Law No. 21,770 on sectoral permits—adopted in late 2025 under the previous government—is in effect. It is expected to reduce permit processing times by 30–70%. The current administration is also reviewing safety regulations for mines, mine closures, and tailings pond regulations, and has convened a technical group to address geological exploration and access to financing for smaller mining companies.
Since March, when the new government took office, 16 mining projects with a total value of over $24 billion have been submitted to the environmental assessment system. This represents more than 83% of all investments currently under environmental review in Chile. Cochilco’s investment portfolio for 2025–2034 is estimated at approximately $104.5 billion.
Among the factors that could complicate efforts to increase production, the publication cites water shortages in arid regions, opposition from local communities, and declining metal content in ore. The government also estimates the potential of a renewed agreement with Argentina on mining sector integration at over $20.7 billion in investments and approximately 540,000 metric tons of additional annual copper production.
