Dear Reader, The first half of 2023 was a transformative period for the Chilean mining industry. On May 10th, the Chilean legislature approved the new royalty bill, defining the latest state of taxation for the mining industry. Additionally, after years of delay, the government announced the new National Lithium Strategy, clarifying the structure of the future Chilean lithium industry and opening the country to develop new lithium projects. This sweeping regulatory and legislative reform has redefined the industry, providing the legal certainty Chile needed to take advantage of the growing demand for battery metals.

Global Business Reports conducted more than 130 interviews with industry leaders in Chile over the first half of 2023 to gain a holistic understanding of the state of the Chilean mining industry and how these new policies will affect future growth. Neither the National Lithium Strategy nor the royalty bill are perfect in the eyes of industry figures, but across the board, the sentiment was that of relief and enthusiasm that, at long last, companies and investors have the clarity needed to move forward. The Minister of Mining, Marcela Hernando, emphasized the commitment of President Gabriel Boric’s administration to developing the mining industry at large and of launching the lithium segment into the future.

Sustainability was the central focus across the mining industry. As new legislation globally, such as the US Investment Reduction Act, drives the electrification transition, requirements include sustainable sourcing of materials. In this landscape, certification is increasingly important, and major mining companies are investing intensely in environmentally friendly practices internally and along the complete value chain.

Incorporating advanced technologies has gained momentum as a response to Chile’s challenges in labor, falling ore grades, and low productivity. Mines are increasingly shifting to fully automated equipment, using artificial intelligence and other data technologies, and remote monitoring from centers in Santiago. These have benefits in increased cost efficiency, lowered carbon footprints, and reduced labor requirements.

The ‘Chile Mining 2023’ report, part of our GBR Series, delves into these and other topics, providing a comprehensive annual guide to the companies in Chile’s mining value chain. It offers an update on regulatory and legislative activities, current operations and projects, and the latest industry trends in one of the world’s most important and advanced mining jurisdictions.

We are grateful for the participation of our interviewees and partners. We thank you for choosing Chile Mining 2023 as your guide to the Chilean mining industry.