Copper Mining In Chile
You should know how much we rely upon minerals for daily chores. People consider minerals part of their lives but still don’t realize how much minerals they consume every year. More than 38,000 pounds of minerals are often used by a normal person annually in the US. These are considered the backbone of several industries driving economic growth. Talking about important metals and minerals, we can’t forget to include copper in the list of widely used commercial metals. We shall discuss more on it.
Mining In Chile
Copper mining and production hugely contribute to unifying the countries’ economic growth and progress. Chile is the world’s largest and leading copper-producing country. The country produced nearly 5.7 million metric tons of copper in 2020. Copper mining became an important factor for Chile’s economic development. From 1990 to 2006, copper production doubled, resulting in large-scale mining, which is responsible for the rapid development of Chile’s economy.
Today, the world considers Chile as a copper powerhouse due to the country’s new advanced technology, economic reforms, and investment attractiveness. The mining sector has contributed approximately 10% to the country’s economy. Companies like Three Valley Copper TVC are focused on improving copper production and exploration. The Three Valley Copper stock is also involved in investment for mining, agriculture, energy production, and the services sector.
Top Mines In Chile
Chile has been the top copper-producing country for more than 30 years. The country desirably owes the seven mines out of 14 top copper-producing mines in the world. Read further to know about the top mines in Chile that are helping in driving the economic growth at a fast pace of the nation.
The mine owned by BHP Bilton, Rio Tinto, and JECO is the largest copper-producing mine of the country located in the Antofagasta region. The size of the copper reserve and cost competitiveness has made it one of the most prominent mines in the world. Its nominal production capacity is 1.2 million tons annually for copper concentrate and cathode production. Escondida is also the producer of gold and silver.
The mine is located in the north of Chile in the Antofagasta region. By excavated volume, it is the largest open-pit mine in the world. Chuquicamata ranks second in the list of deepest open-pit mines worldwide. Along with copper, the mine also produces gold.
This copper-producing mine is situated in Northern Chile and is owned by Anglo American, Glencore, and Japan Collahuasi resources. Collahuasi is the third-largest copper mine globally. It is evaluated that the mine has a life of up to 51 years from 2020-2070.
- El Teniente
It is the world’s largest underground copper mine which is located in Chile, Andes. The mine is owned by Chile’s national copper company, Codelco. According to reports, the mine was under operation as early as 1819. The mine ranks sixth in the list of largest mines in terms of reserve sizes.
Today, Chile exports nearly 50% of copper-related products. The country’s copper production was boosted since reforms turned the country into a prominent copper producer in the world. The mining sector has empowered Chile’s economy, making it a prosperous, stable, and wealthy nation of South America.