translated from Spanish: Good news for the mining sector: South America seems more attractive than Australia

Chile will attract an estimated mining investment of $10,600 million from 2018 to 2021, against a forecast of US$ 5,400 million in the last quarter, said the Central Bank, citing estimates of the Capital goods Corporation. In Peru, the second largest producer of copper in the world, expected mining investment to increase 20 percent in 2018 and 2019, according to the report, without providing a total figure.
“In other mining economies, such as Australia, has not been observed a comparable recovery”, according to the report. “This significant increase in investment originated by the inclusion of a small number of projects, but high amounts of investment have advanced significantly in their realization.”
Major investments include that of Quebrada Blanca 2 of Teck Resources, a project of US$ 4.700 million whose production is expected to start in 2021, and Antofagasta in Los Pelambres expansion, which will begin construction next year. The revision to the rise in the registration of mining investment is the largest history in two consecutive quarters, he said the central bank.
Chilean copper, Cochilco, agency and government investment promotion office reports that other large projects could receive the go-ahead in the next two years.
Expected a rise in mining investment in Chile and Peru at a time when demand for copper increases and inventories accounted for the bags in New York, London and Shanghai are at their lowest level in nearly four years. It is expected that the market registered a deficit of 67,000 tons this year with 86,000 tons next year, according to the most recent projections of Cochilco.

Original source in Spanish

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