Wedoany.com Report-Dec.12, Chile's mining sector is projected to attract $104.549 billion in investments between 2025 and 2034, the state copper agency Cochilco announced on Thursday. The figure marks a 26% increase from the previous forecast issued last year for the 2024–2033 period, which stood at $83.181 billion.

The updated outlook represents the highest investment projection since the 2016–2025 cycle and reflects growing confidence in Chile's copper and lithium industries. The country remains the world's largest copper producer and the second-largest producer of lithium, a critical component in rechargeable batteries for electric vehicles and energy storage.

Major projects driving the increase include a large-scale expansion at BHP's Escondida mine, the world’s largest copper operation, and the construction of new concentrator plants at the Collahuasi copper mine, jointly owned by Anglo American and Glencore. These and other initiatives are expected to sustain production growth over the coming decade.

"In this portfolio, we are seeing how new copper and lithium projects are consolidating as drivers of future development," Mining Minister Aurora Williams stated during the presentation of the Cochilco report.

The forecast covers both brownfield expansions at existing operations and greenfield developments across Chile's northern mining regions. Investments are distributed across the full project lifecycle, including feasibility studies, construction, and equipment acquisition.

Cochilco highlighted that the upward revision results from improved project maturity, higher expected metal demand, and continued progress in environmental permitting processes. The agency noted that approximately 70% of the total investment is concentrated in copper projects, with the remainder primarily allocated to lithium and supporting industrial infrastructure.

The announcement reinforces Chile's position as a leading destination for global mining capital at a time of rising demand for metals essential to the energy transition and electrification.