U.S. increases investment in Chile’s critical minerals

According to BNAmericas, the United States is seeking to become a key partner in Chile's mining sector; not only are international mining giants like Freeport-McMoRan, Albemarle, and Newmont investing $24.2 billion to expand production, but smaller enterprises are also making greenfield investments, and startups are choosing the country to validate their technologies.

Major global powers are currently accelerating efforts to secure stable supplies of critical minerals from reliable partners. Chile, with its immense geological potential and welcoming stance toward foreign investment, represents an attractive destination.

While China remains Chile's primary trading partner, and Canada, Japan, and Australia continue to be major sources of foreign investment in the Chilean mining industry, recent cooperation between Chile and the U.S.—including a joint statement establishing a consultation mechanism for critical minerals and rare earths—could alter this landscape.

Both governments aim to consolidate a strategic alliance, and Chile's intention to serve as a key supplier is becoming increasingly evident.

Between 2020 and 2025, the annual value of Chilean mineral exports to the U.S. reached $9.412 billion, reflecting an average annual growth rate of 24.4%. During the same period, copper exports averaged $8.684 billion annually, growing by 26.5%.

In 2025, Chilean electrolytic copper accounted for 54% of total U.S. imports, while its shares of rhenium, iodine, and lithium hydroxide imports stood at 95%, 88%, and 82%, respectively.

Chile also exports lithium carbonate, gold, and silver bullion to the U.S., and the trade relationship between the two nations is set to deepen further. Diversified mining company Freeport-McMoRan, through its local subsidiary Minera El Abra, is investing $7.5 billion to extend the operational life of the El Abra copper mine by 40 years and boost production.

Albemarle plans to invest $3.1 billion in a project at the Salar de Atacama utilizing Direct Lithium Extraction (DLE) technology, a move that would nearly triple its production capacity from current levels.

Through partnerships with other companies, Newmont is advancing the NuevaUnión and Norte Abierto greenfield projects. The new alliance project involves a $7.2 billion investment to build a mine capable of producing 190,000 tonnes of copper and 315,000 ounces of gold annually during its first decade of operation. The Norte Abierto project entails a $6 billion investment to develop a combined mining operation comprising the Cerro Casale and Caspiche deposits.

Atana Elements, a company focused on lithium and critical mineral exploration, raised $27.5 million in June to expand its Latin American operations—with a particular focus on Chile—as it prepares to seek partners for project implementation.

Chilean Cobalt Corp (CCC) is developing the La Cobaltera project, which requires an investment of $400 million. The project aims to produce 3,000 to 5,000 tonnes of cobalt concentrate and 20,000 to 25,000 tonnes of copper concentrate annually over a 15-year mine life. The final destination for these products is the United States for processing.

CCC secured a $317 million loan from the Export-Import Bank of the United States to support the development of La Cobaltera and other projects in Chile, including the NeoRe ionic rare earth project.

Pureli, a developer of Direct Lithium Extraction (DLE) technology, recently joined a project led by Fundación Chile and Corfo (the Chilean economic development agency) to scale up and validate its solution in Chile. Chile holds 25% of the world's lithium reserves, and according to the startup, the country's abundant reserves offer a "strategic opportunity" for its process.

source:https://geoglobal.mnr.gov.cn/zx/kydt/zhyw/202607/t20260714_10272673.htm