Mining is expected to continue to grow 5 percent annually through 2007, with projected investments exceeding $6 billion during the same period.

Chile's exports are supported by the output of a well-developed industry, which uses state-of-the-art production technology, particularly in copper mining. Mining production will continue to lead Chile's economy with significant foreign and domestic investment in developing new mines and/or modernizing and expanding existing ones. The state-owned mining company, CODELCO, is the world's largest copper producer, but privately owned mines (including those with international ownership) account for about half of Chile's copper production and look to increase their share of the market steadily.

The local mining supplies market exceeds US$1 billion and is expected to grow at an annual minimum average of 10% for the next 5 to 8 years.

Market demand in Chile is mostly project-driven and highly influenced by the international price of mineral commodities. As one of the largest markets for mining equipment and services in the world and the most open market in the region, Chile attracts suppliers from all over the world that sell prime quality products that compete openly not only on price, but mostly on value added-services for their clients and end-users. Identifiable mining projects call for investments exceeding US$ 18 billion. These include those currently under study and those scheduled to start development and construction within the next 5 to 7 years and be operational by 2012-2013. CODELCO would remain the largest investor in this industry with US$12 billion. The price increase of copper (US$0.65/lb in 1998 to a peak of US$2.347/lb (March 20, 2006)) has also driven demand up.

Between 2003 and early 2006, the number of active mines has jumped from 70 to 220.