Far more than US$100 billion could possibly be invested within the Chilean mining sector more than the next eight years, Alberto Salas, president of Chile?ˉs National Mining Society (SONAMI), forecast within a speech given to more than a thousand in the country?ˉs top mining industry leaders.
About US$78 million of that figure would come from the private sector and extra than 100,000 new mining related jobs will be generated consequently from the investment, he stated in the opening ceremonies for Expomin 2012 in Santiago.
The projected investment was an improve from an earlier estimate of US$91.46 billion for the 2012 to 2020 time period given in March this year and is up 25% from SONAMI?ˉs estimate of US$80 billion for 2011-2018, in accordance with a report by Reuters. Stone Crusher
Codelco chief executive Diego Hernandez told the same invited audience that international mining investment for 2012-2020 would total US$325 billion, with a lot more than half of that destined for Latin America.
Miners in Chile are scrambling to find and create reserves as the expenses of production for current ore bodies increases amid steadily decreasing ore grades in current mines.Stone Crusher Plant
Codelco, the world?ˉs top copper producer, said last month that it planned to invest much more than US$4.3 billion this year, a record quantity, on its projects.