The massive figure includes?a recently announced $23.5 billion in allocated funds for?Codelco, the state-owned copper mining company, to revamp century-old mines that are running out of profitable ore.
The government has also promised to sell $4 billion of bonds for additional funding for new mines and the expansion of one of its major Cheap RS Gold.The minister said once current projects are completed, the country’s copper production would exceed 6 million tons by 2015 and 8 million tons by 2025.
Gold production is expected to rise as well, increasing by 191% to 149,480kg a year.Panoramic of Codelco's new 160,000 tonnes-plus Ministro Hales mine.Chile still produces about a third of the global supply of the base metal, used in construction, and according to Williams no other country is likely to be able to catch up soon.
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