Chile Launches National Critical Minerals Strategy to Diversify Beyond Copper
Chile has launched its National Critical Minerals Strategy to diversify its mineral production beyond copper, identifying 14 critical minerals essential for global demand. The strategy categorizes these minerals into three groups based on their production status and aims to enhance Chile's role in the energy transition while promoting responsible sourcing. However, industry experts express skepticism regarding its effectiveness due to a lack of concrete actions and existing institutional challenges.
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Chile has introduced its National Critical Minerals Strategy to position itself as a reliable supplier of critical minerals amid rising global demand. The strategy, revealed towards the end of President Gabriel Boric's term, identifies 14 critical minerals: copper, lithium, molybdenum, rhenium, cobalt, rare earth elements, antimony, selenium, tellurium, gold, silver, iron ore, boron, and iodine.
It categorizes these minerals into three groups based on current production status and market position. Group A includes minerals where Chile holds significant global shares; Group B includes those with limited or no production; and Group C encompasses minerals already extracted domestically.
Industry experts express skepticism about the strategy's potential impact on production increases, citing a lack of concrete actions and institutional challenges. The strategy aims to enhance Chile's role in the global energy transition and promote responsible sourcing, with a focus on transparency and stakeholder engagement.
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