Chile reaffirmed as global center for copper mining investment
A study by Cochilco profiles the Andean nation as the third most attractive place in the world for copper investment behind Canada and Australia.
Wednesday, June 12, 2013
Chile has taken third place in a new ranking system of the world’s most attractive countries to invest in copper mining, according to a new study developed by the Chilean Copper Commission (Cochilco).
The study collected data from prestigious organizations such as the World Economic Forum, the Heritage Foundation, and the Fraser Institute, and analyzed both the strength each nation’s copper mining industries and their economic stability. Each country’s political systems, labor specializations, business infrastructure, permit systems, and geological potential were all also analyzed.
According to Mining Minister Hernán de Solminihac, Chile is the highest ranked non-developed country in the new study.
"After analyzing all the variables, Chile is the third most attractive country for investment in the world, after developed mining countries such as Canada and Australia," Solminihac said.
The study ranked each country on a scale of 1 to 7 in a variety of variables. Compared with other nations nations in the study, Chile was well above average, according to Solminihac.
For example, Chile received a grade of 6 in the variable of permit acquisition, compared with the study’s 3.3 average. The country also earned a positive evaluation for its political stability.
Solminihac additionally noted that the study revealed areas in which Chile can work to improve its attractiveness as a destination for mining investment.
“We are aware of the challenges we still face compared to developed mining countries in terms of our competitiveness of labor specialization and business infrastructure,” he said.
The Minister emphasized that Chile will be working to address these variables, and continue to improve the country’s position as a global leader in the industry.
Chile is already the world’s largest producer of copper, and studies show that the country’s top mines will be able to sustain production for at least another century.