Chile: 21 New Mining Projects Worth US$24.5 Billion Are Under Evaluation

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

Chile's government seeks to attract investment in copper, lithium and rare earths by reducing permitting times and corporate taxes. The government has also opened the door to more public-private partnerships with state-owned mining firm Codelco.

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Mining Opportunities Mulled

Chilean Minister of Economy and Mining Daniel Mas has called for new mining investments in copper, lithium, and rare earths while highlighting government efforts to reduce permitting times and corporate taxes.

Since March 2026, 21 mining projects representing US$24.5 billion have entered the environmental evaluation process, according to Mas. Together, the projects account for 63% of the total investment under environmental evaluation since President Jose Antonio Kast took office.

In its first six months, the new government approved 19 mining projects worth US$2.8 billion that were in the environmental review pipeline when Kast took office. The projects could bring 13,000 jobs.

The government aims to reduce mining permitting times between 30% and 70% by replacing 55 sectoral authorizations with 13 permits and simplifying 18 approval procedures to unlock billions in project development. Mas also highlighted the progressive reduction of the corporate tax from 27% to 23% by 2030 and 20 years of fiscal stability for qualifying investments.

The minister also opened the door to more public-private partnerships in copper and lithium mining: "Partnerships with the private sector on various projects have been fundamental, and we want to continue strengthening them. We invite the companies present here to explore opportunities with Codelco. Alliances with Freeport, Teck, SQM, Anglo American and Rio Tinto reflect a model in which the state-owned company (Codelco) and private capital can complement each other. And we want more of that."

In August, Codelco Chairman Bernardo Fontaine highlighted the company's interest in expanding partnerships with the private sector to develop projects. Codelco seeks to leverage private investment to develop its mining assets while reducing the company's own capital requirements. A clear example is Codelco's partnership with Pucobre for the development of the Tovaku copper project, which was announced in August.

Industrial Info Resources is tracking 268 active capital copper mining-related projects in Chile, with a total investment value of US$67 billion. Among the largest by investments are the NuevaUnion mine and Los Colorados Escondida Expansion projects. respectively. The Industrial Info Resources Global Market Intelligence (GMI) Metals & Minerals Project Database offers detailed reports on the NuevaUnion and Los Colorado Escondida projects.

Lithium

Mas also highlighted Chile's vast potential for lithium mining. According his recent presentation, the country has 69 salt flats, of which only the Atacama salt flat is currently in production. Since the launch of Chile's National Lithium Strategy in 2023, the government has announced five new lithium operating contracts. Two of those contracts were recently submitted to the comptroller general and the other three are expected to follow.

Industrial Info Resources is tracking 29 active capital lithium mining projects in Chile, with a total investment value of US$9.33 billion. The Altoandinos salt flat and the Salar Futuro projects are the largest by investment.

Rare Earths

Mas also highlighted investment opportunities in rare earths: "We signed an MOU (memorandum of understanding) with the United States regarding critical minerals, and we are looking at how to diversify production, as we already have one company making progress and around 12 others following close behind."

Chile has four active rare earth projects worth US$158 million, according to the IIR database.

Key Takeaways

• The new Chilean government has approved 19 mining projects since March worth US$2.8 billion.
• Since March, mining has accounted for 63% of the investment value entering the environmental evaluation process.
• The government seeks to reduce authorizations from 55 to 13 permits and drop corporate tax from 27% to 23%.

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Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).