As global copper prices continue to rise due to supply shortages, there is heavy news coming from the Chilean mining industry. On December 24, 2025, it was announced that 13 copper mining projects worth a total of 14.8 billion US dollars in the country will enter a critical milestone stage in 2026, which may alleviate the supply pressure on the global copper market and consolidate Chile's position as the world's top copper producer.

According to the officially disclosed plan, these 13 projects are divided into two categories: production and construction. Among them, 7 domestic projects are planned to be officially put into operation in 2026, with a total investment of 7.1 billion US dollars. After production, it is expected to add nearly 500000 tons of annual production capacity. This batch of production projects has an impressive lineup, including the Collahuasi copper mine C20 upgrade project jointly developed by Anglo American and Glencore, the Rajo Inca structural project of Chile's national copper company Codelco, the Mantos Blancos project of Capstone Copper, and the controversial Dominga project under Andes Iron.

The other six development projects are planned to start construction in 2026, focusing on the strategic demand for copper in the energy and technology fields, with a total investment of up to 7.7 billion US dollars, including BHP's Spence project and Capstone's Santo Domingo project.

However, the pace of releasing project capacity is not achieved overnight. Juan Ignacio Gusman, CEO of GEM, a Chilean mining consulting company, pointed out that although several projects were planned to be put into production next year, they could not realize full load production increase immediately. According to the Chilean Copper Industry Council (Cochilco), this batch of projects is expected to increase Chile's annual copper production to about 5.6 million tons, an increase of about 100000 tons of pure copper from the current level.

This increment is of great significance to the global copper market. The International Copper Research Group (ICSG) predicts that there will be a supply gap of 150000 tons in the global copper market by 2026. If the progress of these projects in Chile is hindered, the gap will further expand. Benchmark Minerals copper analyst Albert McKenzie emphasized that copper is an indispensable raw material for global key investment areas such as energy transition and artificial intelligence, and the urgency of developing new mines is self-evident.

It is worth noting that the advancement of these copper mining projects in Chile is not without challenges. Guzman said that compared with market fluctuations and the new government that will take office in March 2026, community relations are the core risks faced by the project. The community's voice in the promotion of mining projects continues to increase. Although key obstacles have been cleared for projects that have already been put into operation, projects that are about to start still need to go through complex approval processes and may even face legal litigation.

A significant and sustained investment is another key prerequisite for the implementation of the project. Cochilco predicts that Chile's mining industry will attract a total of $105 billion in investment from this year to 2034, including the expansion project of the world's largest copper mine, the Escondida copper mine, under BHP Billiton. This batch of long-term investments will inject momentum into the sustained development of Chile's copper mining industry and provide support for the stability of the global copper supply chain.Editor/Bian Wenjun