BHP Bets Big on Chile Copper: US$14.7bn Plan
BHP is spending up to US$14.7 billion on its Chilean copper mines. It is the company's largest investment cycle ever, and it signals a major bet on copper demand. The post BHP Bets Big on Chile Copper: US$14.7bn Plan appeared first on The Rio Times .
Mining giant BHP is committing up to US$14.7 billion over a decade to expand its copper operations in Chile. This is its largest investment in the country, with US$10.7 billion to US$14.7 billion earmarked for projects at Escondida, Spence, and Cerro Colorado. The money is primarily for Escondida, the world's largest copper mine, with BHP pledging US$7.3 billion to US$9.8 billion for the expansion.
This includes a new 125,000 tonnes-per-day concentrator costing US$4.4 billion to US$5.9 billion and US$2.0 billion to US$2.6 billion to upgrade the existing Laguna Seca concentrator. The Spence area receives US$2.8 billion to US$3.9 billion, with projects including a concentrator upgrade and a chalcopyrite leaching operation. Cerro Colorado, which closed in 2023 due to water issues, is set for a restart, potentially creating 3,433 jobs at peak construction and around 3,260 during operation.
The projects aim to secure strong long-term copper supply and meet rising global demand, driven by the energy transition. However, challenges like water scarcity and falling ore grades push costs higher. BHP is investing in desalination and recycling to reduce water use and has secured water rights to mitigate this risk. The environmental approval for the expansion was granted in July 2026, signaling progress.
BHP's investment comes as copper prices show resilience and demand is expected to grow sharply in the next decade.
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