Chile's copper production peaks in 2028

Image source: https://www.cochilco.cl/

The Chilean Copper Commission (Cochilco) recently released a report saying that the country's copper production will increase by 22.6% in the next 10 years.

The report of the Cochilco Market and Public Policy Research Department believes that by 2031, Chile's copper production will reach 7.095 million tons, with an average annual growth rate of 1.7%, and reach its peak in 2028 at 7.35 million tons.

The report pointed out that the output of existing copper mines will drop by 31% by 2031 to only 3.99 million tons. Therefore, there must be new expansion projects and new mines to make up for these capacity losses.

Chile is the world's largest copper producer. The copper mining industry is the focus of the country's economic growth and fiscal and taxation policies.