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Chile, Peru account for 40% of world copper reserves

Pablo Longueira, Chile’s Minister of Economy, Development and Tourism. Foto: ANDINA/Carlos Lezama

Pablo Longueira, Chile’s Minister of Economy, Development and Tourism. Foto: ANDINA/Carlos Lezama

18:22 | Lima, May 14 (ANDINA).

Peru and Chile account for 40 percent of world copper reserves, with 13 and 27.5 percent, respectively, said Monday Chile’s Minister of Economy, Development and Tourism, Pablo Longueira.

Chile is the largest producer, concentrating 32 percent by 2011. That implies a significant increase compared to 1990 when it represented 18 percent of world production, Longueira said.

"Chile and Peru are the largest producers of copper and only Chile has more than a quarter of the (world’s) reserves," he said during the first session of the X International Gold Symposium and II Silver Forum organized in Lima by Peru’s National Society of Mining, Oil and Energy (SNMPE).

Chile’s minister added that the portfolio of investments in the Chilean mining sector amounted to almost US$ 91.5 billion, but its implementation faces three challenges: to increase energy production, to increase water production and to improve human capital.

He said that these are common challenges in the countries of the region and highlighted the upcoming signing of the Pacific Agreement between Peru, Chile, Colombia and Mexico as it will contribute to a better use of energy resources, benefiting all of them.

Finally, Longueira said that the Chilean mining sector accounts for 15.2 percent of its Gross Domestic Product (GDP), amounting to 200 billion dollars.

(END) LVT/RZZ/LVT


Published: 5/14/2012
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