The ACS held its 13th Chilean Minister of Mines Conference on the 9th of October 2018. Minister Baldo Prokurica graciously accepted to address a numerous group of mining investors, traders and analysts, together with members of our Society, giving a full update on the state of the mining industry in Chile.
Accounting to 10% of GDP, 35% of Foreign Investment, 50% of exports and more than 200,000 employees, the mining sector is a key factor in Chile’s economic and social development. Chile is the largest world copper producer and source of this metal reserves. Other key metals are molybdenum and the new and growing development of lithium deposits.
Chile is one of the favourite international destinations for exploration and mining projects, ranked 8th worldwide and 1st in Latin America by the Fraser Institute. In the next ten years, Chile is managing a mining investment portfolio of over US$ 65 billion, out of which stand out 19 projects from the small and medium size private mining sector with a budget of US$33 billion and 9 projects from the state owned giant Codelco, with a budget of US$22 billion.
There was an active dialogue and exchange with the public, arising from questions posed to the Minister by the facilitator of the Conference, Mr Michael Lockwood, a well-known veteran of the International Mining Industry, and members of the public.
The event was sponsored by the generous donations of three of the International mining giants listed in the London stock Exchange. Antofagasta Holdings Plc, Anglo-American Plc and Rio Tinto Plc. It took place once again in the magnificent premises of the Society of Antiquaries of London and was followed by a reception of Chilean wine and Spanish tapas.