Chile's Copper Production Stagnation Amid Record Prices, Warns SONAMI President

Jorge Riesco, president of SONAMI, stated that Chile is not capitalizing on the current high copper prices due to stagnation in mining output for two decades. He identified structural reasons for the rising copper value, including energy transitions and increased demand from electromobility and data centers.

Despite being the world's leading producer, the country has seen a concerning decline in production and lacks new projects to enhance capacity. Riesco emphasized that tax uncertainty deters investment, impacting both foreign and domestic initiatives. This stagnation could lead to continued financial losses as unutilized copper resources remain unsold.