MercoPress. South Atlantic News Agency

Mining and energy concentrate most investments in Chile in record year 2010

Chile is the world’s leading producer and exporter of copper

Estimated investment in Chile reached a total of US$130 billion during 2010, including US$42.7 billion in potential investments. This total marks a rise of 16% from 2009, according to Sofofa. Last year’s figures are the highest in five years.

The study conducted by Sofofa, a major business lobby in Chile, considered public, private, and joint public-private investments already underway, about to be executed, or deemed as ‘potential.’

A large portion of the increase is linked to mining investments, totalling US$46 billion in 125 projects. These investments are highly concentrated in the copper-rich northern regions of Atacama and Antofagasta, which have investments slated for US$23 billion and US$19 billion, respectively.

The Metropolitan Region is the third region with the most invested resources, with US$13 billion.

Energy investments are close behind mining, accounting for a total of US$43.6 billion in 182 initiatives. Furthermore, the single most substantial investment is the controversial Castilla thermoelectric plant, by EBX Group. The plant costs an estimated US$4.4 billion.

The thermoelectric plant is followed by two projects in Minera Escondida, with investments by BHP Billiton and El Morro for US$3.5 billion and US$2.5 billion, respectively.

By Ignacio Gallegos - The Santiago Times