{
  "id": 2244864,
  "title": "Chile Wants Six Million Tonnes of Copper. Right Now It Is Producing Less Each Year",
  "url": "https://urgent.news/2026/08/20/chile-wants-six-million-tonnes-of-copper-right-now-it-is-producing",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-20T22:36:51.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/chile-copper-production-target-six-million-tonnes/"
  },
  "original_language": "en",
  "account": "Chile aims to produce six million tonnes of copper annually, a goal highlighted at a Clapes UC seminar on August 13, 2026. This target, set by the government, contrasts with its own forecast, which predicts production will decline this year. In 2025, Chile produced 5,415,200 tonnes of fine copper, marking a 1.65% decrease from the previous year. The state copper commission, Cochilco, predicts output to fall further, reaching 5.27 million tonnes in 2026, before rebounding slightly to about 5.55 million in 2027. The government's current projection suggests a 14% increase from where Chile is headed this year, reaching six million tonnes. However, Cochilco's ten-year forecast does not anticipate meeting this target, with production expected to peak at 6.06 million tonnes in 2033.\n\nThe centerpiece of Chile's strategy is Law 21.770, the framework law on sectoral authorisations, which aims to reduce permitting times by 30% to 70%. The new administration is tasked with implementing this law. Additionally, the mining ministry is revising regulations on mine safety and closure, and establishing a technical group to facilitate junior miners' access to risk capital and reduce permit burdens for early-stage projects. Since March, when the government took office, sixteen mining projects worth over US$24 billion have entered environmental review, accounting for more than 83% of all investment currently under review in Chile. This significant investment, totaling about US$104.5 billion in Cochilco's portfolio and US$87.7 billion in CBC construction projects, underscores the sector's importance to the Chilean economy.\n\nChile's copper sector is crucial, impacting the exchange rate, tax base, and current account. The peso weakened against the US dollar due to rising oil prices and economic contraction, with GDP falling 0.2% year-on-year in the second quarter, marking consecutive negative quarters with mining as a major drag. The government's strategy hinges on breaking this downward loop, as falling output leads to weaker growth, reduced revenue, and increased pressure on the copper royalty, complicating investment decisions. While several challenges—such as water scarcity, community consent, and declining ore grades—remain, legislation aimed at expediting environmental approvals can help by preventing good projects from lingering in the queue. However, even with these measures, Chile may not reach the six million-tonne target until the 2030s, possibly achieving only around a hundred thousand additional tonnes. This reality makes the government's straightforward statement of the goal more defensible.",
  "summary": "Chile is converging on a target of six million tonnes of copper a year. Its own agency forecasts 5.27 million this year, and no more than 6.06 million before 2033. The post Chile Wants Six Million Tonnes of Copper. Right Now It Is Producing Less Each Year appeared first on The Rio Times .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}