Borich’s comments came as a surprise appearance at a gathering of the world’s top copper executives and analysts at CESCO Week, the largest annual gathering of sector experts alongside the CRU World Copper Conference.
Chile, the world’s largest copper producer, is focused on speeding up the approval process for mining projects, he said, as global companies express concerns about the length of time it takes to approve new mines and expansions. Ta.
He also emphasized the need to further economically distribute mining profits to local communities.
Boric also said that one of Chile’s strongest lawsuits is to ensure long-term security for investors.
“Long-term mining projects work when there is more certainty and clear rules for everyone,” he said. “Investing is also based on the perception of trust. And that is intangible.”
The nearly 2,000 attendees erupted in applause when Borich said he believed this stance should underline Chile’s policies no matter who is president.
Jonathan Pryce, CEO of Canada-based Teck Resources, said at a recent conference that his company would not have invested in the Quebrada Blanca copper mine if it had known it would take 10 years to get off the ground. Although he said he might not have been, he said he was proud. project.
Last year’s mine expansion was one of the largest mining investments in Chile in a decade.
Boric also spoke about the government’s efforts to increase lithium production and praised the benefits of public-private partnerships, with Codelco now tasked with spearheading such partnerships in Chile’s lithium industry.
He said a process to encourage private investment in lithium had begun this week, adding that production of the ultralight metal is expected to double in 10 years.
(Written by Dinah Beth Solomon, Alexander Villegas and Ernest Scheider; Edited by Sonali Paul)
