March 3, 2020
Investment

Authorities inaugurate Chile pavilion in the world’s most important mining fair

Authorities inaugurate Chile pavilion in the world’s most important mining fair
The Minister of Mining, Baldo Prokurica, is heading the Chilean delegation to this year’s PDAC trade show where he launched a book with details of 40 mining investment projects in Chile.

In order to draw attention to Chile’s attractions for the implementation of mining projects, Mining Minister Baldo Prokurica is heading the Chilean delegation that, through to March 4, will be in Toronto, Canada, for this year’s version of the international trade show of the Prospectors & Developers Association of Canada (PDAC), one of the world’s most important venues for the mining industry.

Minister Prokurica is accompanied by representatives of ENAMI, SERNAGEOMIN, SONAMI, ProChile and InvestChile. On Sunday, they inaugurated the Chilean pavilion at the fair, which will showcase the attributes that make the country attractive for mining investment.

At the inauguration, Minister Prokurica stressed “the importance of mining for development, job creation and the defeat of poverty. Forty years ago, 40% of Chileans were living below the poverty line; today, it is 8.3% and half of those families who escaped poverty were able to do so thanks to the Chilean mining industry. I want to repeat a phrase that is not mine: our peoples cannot have poverty on earth and wealth under the earth.”

He added that “we became an attractive destination [for mining investment] because of our strategic position and geological potential. Similarly, as a pro-investment and pro-employment government, with an excellent professional and technical structure that responds to a program and policies of the administration of President Piñera who has emphasized mining as a motor of development, as a source of job creation and opportunities for Chilean families, we also have a powerful portfolio of mining investments worth more than US$72,503 million over the next ten years, that is, 10.3% more than projected in 2018.”

The Minister also drew attention to some news Chile has to announce to the world as regards mining. “We have come here with good news because the budget for exploration in Chile which, despite some forecasts to the contrary, grew by 13% [in 2019] compared to the previous year, equivalent to an additional US$77 million,” he announced.

He also referred to the second version of the book prepared by the Mining Ministry - “Chile: Leader in metals that facilitate the future” - the online version of which is available on www.minmineria.gob.cl. It provides information about a portfolio of 40 projects, a 25% increase on the first version of the book. Out of these projects, 34 are at the exploration stage and six at the pre-development stage. “The government is promoting these mining investment initiatives because we are aware that our country is a great facilitator of natural resources for the technologies of the future and electromobility. We have a great opportunity to create jobs and generate development if we can climb up the value chain,” said Minister Prokurica.

He concluded by referring to a series of meetings with authorities from other countries to strengthen bilateral ties as well as with executives from overseas mining companies and other leading figures to show the world that, without mining, the technologized planet we know today would not exist.