The mining industry in Chile is anticipated to grow over the next four years, according a new report by the UK based research firm BRICdata.
Total mineral production in Chile grew at a CAGR of 6.38% and will reach an estimated quantity of 36.7 million tons in 2012.
Chile is the largest producer of copper globally and the country’s copper production valued at $8.6bn in 2011.
The metallic mineral category is dominated by Copper, while the non-metallic category is dominated by salt.
The expansion of key end-user markets such as construction, infrastructure and power generation will continue to generate demand for minerals, over the forecast period.
Growth in copper production is set to drive the mining sector with significant investments made to establish new copper and gold mines, and expand existing mines, the report said.
Global copper consumption is estimated to have grown by 5.9% by the end of 2011, primarily driven by increased demand from China which will, by this time, consume an estimated 38% of global output.
The full report, ‘The Chilean Mining Industry – Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016’ is available from BRICdata. Click here for more details.