According to Juan Carlos Guajardo, executive director of the organization, the most significant factor for the industry during the remainder of the year will be the sustained and competitive recovery of copper production.
The recovery of production, the materialization of investments, Codelco’s performance, and the international environment will be the key issues shaping the growth of the mining industry in the second half of the year, according to Plusmining founder and executive director Juan Carlos Guajardo.
According to his analysis, the first half of the year produced mixed results. On the one hand, Chile’s mining industry operated in a favorable external environment, characterized by strong copper prices, tight global supply, and positive demand prospects associated with electrification and the growth of data centers. However, he warns that these conditions did not fully translate into improved production performance.
On the positive side, he emphasizes encouraging signs in a key area: “In 2026, investment submitted and accepted or currently under review in the Environmental Impact Assessment System reached a record US$19.224 billion. This figure is equivalent to 3.2 times the 2015–2025 annual average of approximately US$5.949 billion, exceeding it by 223%. This result reflects an extraordinary recovery.”
Key Priorities
Against this backdrop, Guajardo stresses that the recovery of production will be essential, provided that the major mining operations can overcome the challenges related to ore grades, maintenance, operational continuity, and weather events that have affected their performance.
The materialization of investment will be another critical issue going forward. “Chile has a highly significant project pipeline, but nearly 60% of it is still in pre-execution stages. Therefore, progress on permitting, decisions in this area, and the construction of sustaining and expansion projects will be decisive,” he says.
Codelco’s performance will also remain high on the agenda, he emphasizes: “Its ability to stabilize and recover production, control costs, and make progress on its structural projects will continue to be crucial for both the mining industry and public finances.”
Fourth, the international environment, particularly developments in China, will emerge as another key issue. Guajardo argues that trade tensions, the security of critical mineral supplies, and growing electricity demand will continue to generate volatility. In his view, these circumstances could strengthen the strategic value of Chilean copper and create new opportunities to attract investment.
Fuente: Diario Financiero