Chile

Introduction 

Chile’s position in the world’s mineral economy was that of a leading supplier of many minerals, the most economically important of which was copper. The country was also a supplier of metals associated with the mining of copper, such as gold and molybdenum; industrial minerals, such as lithium; and other mineral products. In 2024, the country was ranked as the world’s leading producer of mined copper (accounting for 24% of world production); iodine (estimated) (66% of world production, excluding United States production); and rhenium (estimated) (36% of world production). Chile was the world’s second-ranked producer of lithium (excluding United States production), accounting for 22% of world production (estimated), and third-ranked producer of molybdenum (15%) (Flanagan, 2026; Jaskula, 2026; Polyak, 2026a, b; Schnebele, 2026).   

Chile’s real gross domestic product (GDP) increased by 2.6% in 2024 compared with an increase of 0.5% in 2023. The mineral sector continued to be a significant part of Chile’s economy, accounting for 7.2% of the country’s total GDP. The copper industry continued to be the leading industry in the mineral sector, accounting for 5.8% of the country’s total GDP. The state-owned Corporación Nacional del Cobre de Chile (CODELCO) continued to be the world’s largest copper producer in terms of the number of active projects or operations. In 2024, CODELCO accounted for 26% of Chile’s total mined copper production (copper concentrates and solvent extraction).  

The Escondida Mine, which was owned by Minera Escondida Ltd—a joint venture among BHP Billiton Ltd. of Australia (57.5%), the British-Australian multinational company Rio Tinto plc (30%), and Japan-based JECO Corp. (12.5%)—continued to be the country’s largest producer, accounting for 23.2% of Chile’s total mined copper production (Comisión Chilena del Cobre, 2025, p. 15, 59).  

Minerals in the National Economy  

In 2024, the total output value of the mineral industry increased by 5.2% compared with that of 2023. The increase was mainly attributed to an increase in the output of copper. Employment in the mining and quarrying sector, which accounted for 3.5% of Chile’s total employment, decreased to 327,785 workers in 2024 compared with 329,293 workers in 2023 (Comisión Chilena del Cobre, 2025, p. 59, 65).  

According to the Comisión Chilena del Cobre (COCHILCO), investments in mining during the next 10 years, which were expected to include 51 projects at various stages of exploration and (or) development, were projected to total \$83.2 billion. Of the total investment, Antofagasta Region was to receive about 38% of the investment, followed by the Atacama Region (17%), the Libertador General Bernardo O’Higgins Region (10%), the Coquimbo Region (8%), the Valparaiso Region (7%), and the Tarapaca Region (5%). About 64.5% of the projected investments would come from Chile (\$53.7 billion); 10%, from Canada (\$8.3 billion); 5.7%, from Japan (\$4.7 billion); 5.2%, from Australia (\$4.3 billion); 5.1%, from the United States (\$4.2 billion); and 4.8%, from the United Kingdom ($4 billion). Among the mining companies investing in the country, CODELCO accounted for about 40% (or \$33.0 billion) of the total investment in mining. Investments in copper accounted for about 89% (or \$73.7 billion) of the total investment in mining, followed by lithium (5% or \$3.9 billion) and iron (4% or \$3.2 billion) (Comisión Chilena del Cobre, 2024, p. 2, 16, 20–21). 

Government Policies and Programs  

Regulations governing Chile’s mineral industry are contained in the Decree with Force of Law (DFL) No. 302. The legal framework for mining in Chile is based on the country’s Organic Constitutional Law on Mining Concessions (law No. 18.097 of 1982) and the Chilean Mining Code (law No. 18.248 of 1983). COCHILCO was created in 1976 by law No. 1349. The Ministerio de Minería [Ministry of Mining] exercises control of the mineral industry through state-owned companies and regulatory agencies, including the COCHILCO, CODELCO, Empresa Nacional de Minería (ENAMI), and Empresa Nacional del Petróleo (ENAP). TCOCHILCO advises the Government on matters concerning the production of copper, copper byproducts, and other metals, and on industrial minerals mining. CODELCO was involved in industrial mining and trade activities. Decree Law 1350 of 01976 created CODELCO, which began managing all large scale-mines nationalized since 1971. CODELCO reports to the Government through the Ministry of Mining. More-extensive coverage of Government policies and programs can be found in previous editions of this chapter in the U.S. Geological Survey Minerals Yearbook, volume III, Area Reports—International—Latin America and Canada, which are available at https://www.usgs.gov/centers/national-minerals-information-center/south… (Biblioteca del Congreso Nacional de Chile, 2026). 

Production  

Data on mineral production are in the Production table (formerly table 1). 

Structure of the Mineral Industry  

Most of the mining operations in Chile were Government owned and privately owned. The Facilities table (formerly table 2) is a list of major mineral industry facilities. 

Mineral Trade  

In 2024, Chile’s mineral sector accounted for about 61% of Chile’s total exports, in terms of value, and amounted to \$60.6 billion compared with \$56.7 billion in 2023. Metal exports, which accounted for 91% of the country’s total mineral exports in 2024, increased by about 12% to \$55.4 billion, owing mainly to increase in the value of copper exports, which continued to be the leading mineral export product. During the year, copper accounted for 82% of Chile’s total mineral exports and 50% of the country’s total exports. Chile’s leading copper export recipients were China (which received about 52% of the country’s total copper exports), the United States (11%), Japan (10%), and the Republic of Korea (6%).  The value of the country’s industrial mineral exports decreased by 40% to \$4.2 billion in 2024. Lithium carbonate continued to be the leading industrial mineral export commodity, by value (\$2.6 billion), accounting for 61% of total industrial mineral export product, followed by iodine (34%). The value of lithium carbonate exports decreased by 52% in 2024 compared with that in 2023 (Comisión Chilena del Cobre, 2025, p. 25–26, 28). Other exported mineral commodities included, among others, gold, iodine, iron, lithium carbonate, molybdenum, and silver (Comisión Chilena del Cobre, 2025, p. 25–26, 28). 

Commodity Review 

Boron.—Production of boron (ulexite) and boric acid was from the mining and (or) processing of boron-bearing brines from Andean salt flats in the northern part of Chile, the Arica y Parinacota and Antofagasta Regions. In 2024, the Arica y Parinacota Region produced about 85% of the country’s ulexite output and 100% of the boric acid output. The production of ulexite decreased by 44% to 252,317 metric tons (t) in 2024 from 450,239 t in 2023, which was attributed to a 49% decrease in output from the Arica y Parinacota Region. The Surire Mine in the ulexite deposit Salar de Surire was operated by Quiborax S.A. The mine was in the Arica y Parinacota Region, and the ore was processed at the company’s plant, where it was converted into boric acid. The El Aguila plant, which was located about 69 kilometers (km) from the Port of Arica, had the capacity to produce 110,000 metric tons per year (t/yr) of boric acid. Quiborax also mined ulexite in the Salar Ascotán deposit in the Antofagasta Region (Servicio Nacional de Geología y Minería, 2025, p. 78–79, 115, 119; Quiborax S.A., 2025). 

Copper.—In 2024, the total production of copper concentrates and solvent extraction was 5.5 million metric tons (Mt), which was an increase of about 5% compared with that of in 2023. The Antofagasta Region continued to rank first among the country’s copper-producing regions, accounting for about 57% of the total production of copper concentrates and solvent extraction. Chile’s leading copper-producing companies were, in order of output, CODELCO, which accounted for 26% of the country’s total copper production; Minera Escondida, 23%; and Compañía Minera Doña Inés de Collahuasi SCM (Collahuasi), 10% (Comisión Chilena del Cobre, 2025, p. 15, 99). 

Gold and Silver.—In 2024, gold production in the country increased by about 4% to 37,247 kilograms (kg). The Antofagasta Region was ranked first among the country’s leading gold-producing regions, accounting for 34% of total gold production, followed by the Atacama and the Metropolitana (Santiago) (8% each) and the Valparaiso (7%) Regions. Other gold-producing regions included the Aysen, Coquimbo, and Maule Regions. About 56% of all gold produced in Chile was recovered as a byproduct of copper, lead, and zinc mining. The remaining 44% was produced from gold-mining operations. Gold production from large-scale mining operations was produced in the form of dore (Comisión Chilena del Cobre, 2025, p. 13, 21; Servicio Nacional de Geología y Minería, 2025, p. 45–47). 

Silver production in the country increased to 1,354,564 kg in 2024 from 1,262,287 kg in 2023. The Antofagasta Region also continued to rank first among Chile’s silver-producing regions, accounting for about 61% of production, followed by the Atacama Region (16%). Of the silver produced in 2024, about 80% was from copper-mining operations and the remainder was produced from gold, lead, silver, and zinc mining operations (Comisión Chilena del Cobre, 2025, p. 13, 21, 23; Servicio Nacional de Geología y Minería, 2025, p. 24). 

Iodine.—In 2024, the production of iodine, which was extracted from solutions produced by leaching caliche ore, increased to 22,711 t from 22,437 t in 2023. The Tarapaca Region accounted for 75% of the country’s total iodine production and the Antofagasta Region accounted for the remaining 25%. Sociedad Química y Minera de Chile S.A. (SQM), through its wholly owned subsidiary SQM Salar S.A., continued to be the country’s leading producer of iodine. The company produced iodine at its facilities at the Nueva Victoria plant, located in the Tarapaca Region, and the Pedro de Valdivia plant and the Pampa Blanca Mine, both located in the Antofagasta Region, which in total had the capacity to produce about 14,300 t/yr of iodine. In 2024, SQM produced a total of 14,500 t of iodine and derivates (Servicio Nacional de Geología y Minería, 2025, p. 105; Sociedad Química y Minera de Chile S.A., 2025, p. 101–102). 

Lead and Zinc.—The El Toqui underground mine (also known as Doña Rosa Mine) continued to be the only large-scale mining operation for lead in the country. El Toqui, which was owned by Sociedad Minera Pacifico de Sur SPA, was in the Coyhaique Region and produced 367 t of lead in 2024 compared with 325 t in 2023 (facilities table; Comisión Chilena del Cobre, 2025, p. 13; Servicio Nacional de Geología y Minería, 2025, p. 55). 

During the year, Chile also produced a total of 31,959 t of zinc, which was an increase of about 45% compared with that of 2023. El Toqui continued to be the leading producer of zinc in the country, accounting for about 81% of the total production of zinc in 2024. The remaining 19% was produced by Minera Florida Ltd., a. subsidiary of Yamana Gold Inc. of Canada, located in the Region Metropolitana (Santiago) (facilities table; Comisión Chilena del Cobre, 2025, p. 13; Servicio Nacional de Geología y Minería, 2025, p. 56). 

Lithium.—Chile is part of what is known as South America’s “lithium triangle”—an area that hosts lithium-bearing salt flats along the borders of Argentina, Bolivia, and Chile. Historically, Chile’s lithium production was recovered from two brine operations in the Salar de Atacama, which was in the Andes Mountains. The brine deposits of the Salar de Atacama, which was a salt-encrusted depression in the Atacama Desert, contain high concentrations of lithium and potassium as well as significant concentrations of sulfate and boron. The two leading producers of lithium in the country were Albemarle Corp. of the United States and SQM. Lithium-bearing brine concentrates were transported and processed at Albemarle’s lithium carbonate and lithium chloride plants, located in La Negra, and SQM’s lithium carbonate and lithium hydroxide plants, which are located near the city of Antofagasta (Carmen Lithium Chemical Plant). The Antofagasta Region has been producing lithium carbonate uninterruptedly since 1984 and lithium hydroxide since 2005. Lithium carbonate and lithium hydroxide were used mainly to produce cathodes for rechargeable batteries. Batteries were the leading application for lithium, especially for electric vehicle batteries (Servicio Nacional de Geología y Minería, 2025, p. 81; Sociedad Química y Minera de Chile S.A., 2025, p. 105). 

In 2024, SQM increased its lithium carbonate production capacity to 210,000 t/yr and continued with its plan to increase its lithium hydroxide production capacity from 40,000 t/yr to 100,000 t/yr in 2025. The increase in production capacity was mainly attributed to the growing increasing demand for lithium, mainly driven by applications related to energy storage, such as batteries for electric vehicles (Sociedad Química y Minera de Chile S.A., 2025, p. 10, 64, 105, 125). 

Molybdenum.—Molybdenum was produced as a byproduct of copper production and was carried out mainly by large copper-mining companies in the country. In 2024, the production of molybdenum decreased to 38,487 t from 44,118 t in 2023, which was mainly attributed to decreased production at CODELCO’s Andina, Chuquicamata, El Teniente, Radomiro Tomic, and Salvador Mines. However, CODELCO continued to be the leading producer of molybdenum in the country, accounting for about 42% of Chile’s total molybdenum production in 2024 (Comisión Chilena del Cobre, 2025, p. 13, 19).   

Production table

(Metric tons, gross weight, unless otherwise specified)

• Biblioteca del Congreso Nacional de Chile, 2024, Codigo de Mineria [Mining code]: Santiago, Chile, Biblioteca del Congreso Nacional de Chile, January 1. (Accessed July 8, 2026 at https://www.bcn.cl/leychile/navegar?idNorma=29668.) [In Spanish] 

• Comisión Chilena del Cobre, 2024, Inversión en la minería Chilena—Cartera de proyectos 2024–2033 [Investment in Chilean Mining—Project portfolio 2024‒2033]: Santiago, Chile, Comisión Chilena del Cobre, December, 79 p. (Accessed March 23, 2026, at https://www.cochilco.cl/web/inversion/.) [In Spanish.] 

• Comisión Chilena del Cobre, 2025, Anuario de estadísticas del cobre y otros minerales 2005‒2024 [Statistical yearbook on copper and other minerals 2005‒2024]: Santiago, Chile, Comisión Chilena del Cobre, 180 p. (Accessed March 23, 2026, at https://www.cochilco.cl/web/anuario-de-estadisticas-del-cobre-y-otros-m….) [In Spanish.] 

• Flanagan, D.M., 2026, Copper: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 72–73.   

• Jaskula, B.W., 2026, Lithium: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 118–119. 

• Polyak, D.E., 2026a, Molybdenum: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 130–131. 

• Polyak, D.E., 2026b, Rhenium: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 156–157. 

• Quiborax S.A., 2026, About us: Santiago, Chile, Quiborax S.A. (Accessed January 24, 2026, at https://www.quiborax.com/.) 

• Schnebele, E.K., 2026, Iodine: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 100–101. 

• Servicio Nacional de Geología y Minería, 2025, Anuario de la minería de Chile 2024 [Chile mining yearbook 2024]: Santiago, Chile, Servicio Nacional de Geología y Minería, June, 245 p. (Accessed March 26, 2026, at https://www.sernageomin.cl/wp-content/uploads/2026/03/anuario_de_la-min….) [In Spanish.] 

• Sociedad Química y Minera de Chile S.A., 2025, Annual report 2024: Santiago, Chile, Sociedad Química y Minera de Chile S.A., March, 240 p. (Accessed March 26, 2026, at https://ir.sqm.com/system/files-encrypted/nasdaq_kms/assets/2025/06/12/….)