MercoPress. South Atlantic News Agency

Chile ranked third as most attractive country for copper mining investments

Minister Solminihac making the announcement

Chile is the third most attractive country for copper mining investments behind Canada and Australia according to a report from the Chilean Copper Committee, Cochilco that includes fifteen leading countries in the industry and was released this week by Mining minister Hernan de Solminihac in Santiago.

“After analyzing all variables, Chile is placed in third place among the most attractive countries for investments behind developed mining powerhouses such as Canada and Australia”, said Solminihac.

The ranking was based taking into account structural aspects of the different economies from the World Economic Forum and the Heritage Foundation records, as well as information on investing conditions in the mining sector in countries provided by the Fraser Institute.

According to the Chilean minister Cochilco took into account six variables: macroeconomics, political stability, labour specialization, business infrastructure, licences and geological potential.

“The work included the fifteen countries with the largest copper mining developments in the next decade with a total of 120 projects which imply investments in the range of 240 billion dollars”, said Solminihac. Of that number of projects, 32% are in Chile.

Chile is also the world’s leading producer and exporter of copper and is enjoying the benefits of world demand bonanza led by China.

In a scale of one to seven, Canada achieved 5,5 points; Australia, 5.26 and Chile, 5.25, said Solminihac who during the presentation was accompanied by the Executive Vice-president from Cochilco, Andres Mac-Lean.

The ranking continues with the US, 5.2; Mexico, 4.5; Colombia, 4.1; Brazil, 4; Peru, 4; Zambia, 3.6; China, 3.4; Argentina, 3.4; Mongolia, 3.1; Papua Guinea, 3; Ecuador, 2.6 and the Democratic Republic of Congo, 2.1.