Mining in Chile Current Demand Behavior Analysis¶

Demand Behavior¶

The final customers of the Chilean mining industry are overwhelmingly businesses (B2B), both internationally and domestically. There is no indication in the provided information of direct sales to individual consumers (B2C). [Table] The primary international B2B customers are large industrial entities such as overseas smelters, refineries, and manufacturers located predominantly in Asia (China, Japan, South Korea) and Europe, who require mineral products as essential raw materials. [Table] International metal trading houses also act as significant business intermediaries. [Table] A smaller segment of the customer base consists of domestic Chilean industries that utilize mineral products in their operations. [Table] The state-owned ENAMI serves as a commercializer for products from small and medium miners, selling these primarily to other businesses. [Table]

While the exact number of individual or business consumers is not provided in the reports, the trend in demand from these business customers can be assessed through mineral production volumes, as the vast majority of production is directed towards these customers. Chilean copper production, which constitutes the bulk of the industry's output, saw a notable increase of 4.9% in 2024, reaching 5.5 million tonnes. [Table] This growth reversed a five-year declining trend, suggesting a rebound in demand or the industry's ability to meet existing demand from its business customers in 2024. [Table] Projections for 2025 indicate a further increase in copper production to around 5.7 million tonnes, which points towards continued growth in the volume demanded by these business consumers. [Table] For iron ore, CAP's production decreased in 2024 compared to 2023, indicating a different trend for that specific mineral segment, influenced by factors like lower prices. [Table] Overall, the data on copper production suggests that the volume of demand from the industry's business customers is currently growing, particularly when considering the dominant copper sector.

Customer Segment (Type)	Number of Customers (Estimate based on available data)	Growth/Decline (Based on production volume trends as proxy for demand)	Notes
Individual (B2C)	Not identified	Not applicable	No direct sales to individual consumers reported. [Table]
Business (B2B)	Large scale (Specific number not quantified)	Growing (specifically for copper)	Primarily international smelters, refineries, manufacturers, trading houses, and domestic industries. [Table] Copper production increased 4.9% in 2024 and is projected to grow in 2025. [Table]

References¶

Anglo American. (2025, February 25). Anglo American FY 2024 Results.
Antofagasta. (2025, February 18). FULL YEAR RESULTS FOR THE YEAR ENDED 31 DECEMBER 2024.
Ascorp. (2024, July 4). 10 EMPRESAS MINERAS en Chile | Minería del Cobre.
BHP. (2024, August 27). ANNUAL REPORT 2024.
Cochilco. (2025, February 10). Producción chilena de cobre crece 4,9% en 2024, quebrando tendencia a la baja de los últimos cinco años – COCHILCO.
Codelco. (2024, October 30). SEPTEMBER 2024 RESULTS.
Codelco. (2025, March 28). DECEMBER 2024 RESULTS.
Codelco. (2024, December 12). Codelco vuelve al top ten y es la minera con mejor reputación de Chile.
Codelco. Filiales | CODELCO - Corporación Nacional del Cobre, Chile. https://www.codelco.com/empresa/filiales
Consejo Minero. Cifras actualizadas de la minería - Consejo Minero. https://consejominero.cl/la-mineria-en-cifras/cifras-actualizadas/
Empirica. (2022, September 21). Etapas de un proyecto minero - Empirica. https://www.empirica.cl/etapas-proyecto-minero/
Grupo CAP. (2025, March 7). Grupo CAP reporta un EBITDA de US$ 569 millones al cierre de 2024. https://www.cap.cl/grupo-cap-reporta-un-ebitda-de-us-569-millones-al-cierre-de-2024/
ICEX. (2024, August 22). El Sector de la Minería en Chile 2024 - ICEX. https://www.icex.es/icex/wcm/idc/groups/public/documents/documento_vertical/g5831441e_1.pdf
International Mining. (2025, April 4). Collahuasi's solid 2024 results plus growth & efficiency plans. https://www.internationalmining.com/news/collahuasis-solid-2024-results-plus-growth-efficiency-plans/
International Trade Administration. (2023, December 7). Chile - Mining - International Trade Administration. https://www.trade.gov/country-commercial-guides/chile-mining
KPN Safety. (2023, April 11). Proceso de extracción de metales en la minería - KPN Safety. https://kpnsafety.com/proceso-de-extraccion-de-metales-en-la-mineria/
KLog.co. (2021, August 4). Principales puertos de carga de Chile - KLog.co. https://www.klog.co/blog/principales-puertos-de-carga-chile/
La Tercera. (2021, December 27). La importancia de la cadena de valor de la minería para el desarrollo del país. https://www.latercera.com/especial/la-importancia-de-la-cadena-de-valor-de-la-mineria-para-el-desarrollo-del-pais/
Latiza. GUÍA PARA LA COMERCIALIZACIÓN DE MINERALES Y METALES - Latiza. https://latiza.pe/wp-content/uploads/2020/07/GUIA-PARA-LA-COMERCIALIZACION-DE-MINERALES-Y-METALES-1.pdf
Lundin Mining. (2025, February 19). Lundin Mining Fourth Quarter and Full Year 2024 Results.
Portal Minero. (2025, February 10). Producción chilena de cobre crece 4,9% en 2024, quebrando tendencia a la baja de los últimos cinco años.
Portal Minero. (2025, February 5). Chile lidera inversión en exploración de cobre a nivel mundial. https://www.portalminero.com/noticias/chile-lidera-inversion-en-exploracion-de-cobre-a-nivel-mundial/
Portal Minero. (2021, September 30). Conoce 7 proyectos de exploración minera aprobados en Chile. https://www.portalminero.com/noticias/conoce-7-proyectos-de-exploracion-minera-aprobados-en-chile/
Plusmining. (2025, February 12). Codelco managed to halt production decline in 2024, but its gap with Escondida shrinks to a historic low.
PwC. Ingresos de las 40 mayores mineras globales caerán por segundo año consecutivo a US$ 793 mil millones - Reporte Minero | El portal de minería en Chile.
República Federal de Chile. (2025, January 31). Principales puertos de Chile – República Federal de Chile. https://www.republicafederal.cl/principales-puertos-de-chile/
Reporte Minero. (2025, February 5). Gasto en exploración minera en Chile cae un 4,6% en 2024. https://www.reporteminero.cl/noticia/noticias/2025/02/gasto-en-exploracion-minera-en-chile-cae-un-46-en-2024/
Rocmin Servicios Mineros. Rocmin Servicios Mineros. https://www.rocmin.cl/
Schwager. Inicio - SCHWAGER. https://schwager.cl/
SONAMI. Ciclo de vida del cobre - SONAMI :: Sociedad Nacional de Minería - Chile. https://www.sonami.cl/es/ciclo-de-vida-del-cobre/
SONAMI. Etapas en la vida de un Proyecto Minero - SONAMI. https://www.sonami.cl/vidadeunproyectominero.pdf
Teck. (2025, January 20). Teck Anuncia su Actualización de Producción 2024 y Orientación 2025. https://www.teck.com/media/Teck-Announces-2024-Production-Update-and-2025-Guidance-SPANISH.pdf
The Rio Times. (2025, March 31). Codelco Ends 2024 with Financial Gains but Faces Long-Term Pressures.
Webstock Inc. (2025, February 7). Chile's Codelco copper company aims to produce 1.391 million mt of copper in 2025.