The copper sector prepares for a decisive year with 13 major projects valued at USD 14.8 billion slated for either construction or production in 2026. Seven of these projects are expected to begin operations, adding nearly 500,000 tonnes of annual capacity supported by USD 7.1 billion investment. Projects such as Collahuasi’s infrastructure upgrade, Codelco’s Rajo Inca expansion, and Capstone Copper’s Mantos Blancos development reflect robust capital deployment amid a global copper deficit. Chile aims to produce approximately 5.6 million tonnes in 2026, sustaining its role as the world’s top copper supplier, supported by a projected price increase to nearly USD 5 per pound due to constrained supply and growing demand from sectors like artificial intelligence.
Lithium exploration gained momentum with Codelco’s announcement of a joint venture to develop the Salar de Ascotán, an under-explored brine resource with high potential. This aligns with Chile’s National Lithium Strategy, which recently secured its first operational contract in the Atacama region, signifying government-backed efforts to capture value in the critical raw materials market.
The incoming administration under President José Antonio Kast is expected to expedite permits, reduce regulatory uncertainty, and reinforce law and order, improving investment climate. However, social dynamics remain a critical risk factor, as community relations could influence project timelines. Overall, Chile’s environmental approvals, combined with strategic mining and energy projects, position the country for a dynamic 2026 in resource development and clean energy integration.
This article was curated and published as part of our South American energy market coverage.
