Chile’s president says Codelco output to grow; touts investment climate

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Chilean President Gabriel Boric told a major copper industry conference on Wednesday he expects production at state-run miner Codelco to grow slowly this year and reach 1.7 million metric tons by 2030, and that he sees copper prices rising.

Boric’s comments came in a surprise appearance at a gathering of top global copper executives and analysts at CESCO Week, which alongside the CRU World Copper Conference, makes up the biggest annual gathering of sector professionals. He also stressed the need for greater economic distribution of mining industry profits to local communities.“Long-term mining projects work when there is greater certainty, when there are clear rules for all,” he said. “Investments are also based on the perception of trust. And that is something intangible.”When Boric said he believed this attitude should underscore Chilean policy no matter who is president, the room of nearly 2,000 attendees burst into applause.

 

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