How Does Jose Antonio Kast's Win in Chile Affect Country's Mining Industry?

Written by Amir Richani for Industrial Info Resources (Sugar Land Texas)

---

Summary

Jose Antonio Kast has emerged as the winner of the Chilean presidential elections, promising accelerated permitting for projects, expanded mining exploration, and plans to improve water resources.

---

Conservative Win in Chile

Jose Antonio Kast, Chile's right-wing candidate, won the presidential election with 58.1% of the vote on December 14. The politician, who ran a campaign focused on curbing migration, cutting down public spending and strengthening security in Chile, is also seeking to speed up mining development.

Chile is the world's largest copper producer, with production volumes of more than 5.5 million in 2024. It hosts the Escondida mine, the biggest copper mine globally, while state-owned Codelco (Santiago) is the world's largest copper producer.

Besides copper, Chile is a key producer of lithium, silver, gold and molybdenum.

Kast ran a campaign to position the state as a facilitator of private development in the industry. Among its key policies is reducing the bureaucracy surrounding projects, including mining, by eliminating "unnecessary regulation," as his government plan states.

At the same time, he aims to improve efficiency and strengthen administrative certainty in the processes surrounding environmental impact assessments and to develop new guidelines and procedures to expedite these permits.

Meanwhile, Kast will seek to promote mining exploration by creating a digital mining repository containing key information about the sector for public and company use.

In terms of renewable energy, the new government will push for the diversification of the nation's electricity matrix, promoting the development of renewable technologies. In his policy plan, Kast specifically mentioned new investment opportunities in energy storage projects.

This is especially important for the mining industry as companies have set clear goals to decarbonize operations in line with national goals.

Chile's Vast Mining Portfolio

In December, Cochilco, the Chilean mining agency, announced a mining portfolio of US$104.5 billion for 2025-2034. Of this, 81% of the investments pertain to brownfield projects, distributed as follows: 34% for expansions and 47% for repositioning. New projects will account for only 19% of investments.

In an interview with CNN in the context of the presidential elections, Jorge Cantallopts, president of the Centre for Copper and Mining Studies, said that Kast's challenge is to speed up new investments in greenfield mining projects. A large number of projects in the mining portfolio are still at early stages of development, and accelerating their advancement would be key to attracting more investment and driving development in the mining sector.

Kast Across the Board

The president-elect, who will take power in March, has run a campaign on austerity measures and a smaller government. Kast has vowed to cut US$6 billion in public spending during his first 18 months in office.

He has also supported stricter policing and a fight against migration, even suggesting the construction of a wall across the Chilean border.

Regarding water, a significant priority for Chile and the mining sector, Kast will seek to expedite tenders and publish a clear plan for water-focused public works. As part of this, desalination projects, water reuse and water management will be central for the new administration.

Kast has also proposed reducing the corporate tax rate from 27% to 23%, with further reductions in some cases.

Key Takeaways:

• Jose Antonio Kast won the Chilean presidential election with 58.1% of the vote.
• Accelerating permitting will be the new government's key policy to promote mining projects.
• Mining exploration will be central to Kast's administration.

---

About Industrial Info Resources
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, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).