Chile’s Copper Projects Set to Drive Market Growth in 2026

Chile’s Copper Projects Poised for Growth in 2026

Chile’s copper sector is set for substantial growth, with 13 key projects expected to hit major milestones by 2026. These projects, valued at $14.8 billion, come at a crucial time as global copper prices rise amid supply concerns. Seven projects, with investments totaling $7.1 billion, plan to begin operations in 2026. Together, they will add nearly 500,000 tonnes to Chile’s annual copper capacity. Key developments include upgrades to Anglo American and Glencore’s Collahuasi, Codelco’s Rajo Inca, and Capstone Copper’s Mantos Blancos.

These projects highlight Chile’s ongoing leadership in global copper production. The focus is on meeting the growing demand driven by the energy transition, electric vehicles (EVs), and technology sectors.

Chile’s Copper Supply Strategy and Risks for 2026

Chile’s copper projects face global demand growth and rising supply concerns. Analyst Juan Ignacio Guzmán estimates that copper output could hit 5.6 million tonnes, an increase of 100,000 tonnes. However, full ramp-up for some projects will take time. The International Copper Study Group forecasts a 2026 deficit of 150,000 tonnes, which could increase if Chile’s projects face delays.

Chile’s strategy includes both new projects and expansions at existing mines, with an estimated $105 billion in investment by 2034. Securing approvals and overcoming community opposition will be essential for meeting growth targets.

Political Shifts and Investment Confidence

Chile’s upcoming presidential transition to José Antonio Kast, a pro-investment leader, will play a crucial role in copper development. Kast’s policies will streamline permitting and regulatory processes, reducing delays caused by protests. His administration will likely lower the risk of sudden tax or royalty changes, boosting investor confidence in Chile’s copper sector.

Faster decision-making and easier access to private and foreign capital will be key to ensuring that Chile remains competitive in the global copper market.

SuperMetalPrice Commentary:

Chile’s copper industry is poised for growth in 2026, with large-scale projects that could reshape the global market. As prices rise and demand grows, these developments come at a critical time. With backing from a more pro-investment government and significant funding, Chile could solidify its role in meeting the world’s copper needs. However, political, social, and environmental challenges remain, potentially impacting the smooth execution of these projects and the global copper supply.