Alejandro Tapia, President Escondida, addresses the challenges and opportunities Chile face to meet global copper demand.

The president of Escondida | BHP, Alejandro Tapia, spoke at the World Copper Conference organized by CRU, where he addressed the challenges and opportunities Chile faces to meet the global copper demand, which will increase by 70% by 2050.

BHP intends to move forward with its investment plan announced for its three operations in Chile, totalling US$13 billion, to be executed over the next decade.

For this plan to develop, Alejandro Tapia said: "As a country, we must act with a sense of urgency if we want to execute growth projects. The competition will be tough abroad, and Chile cannot miss the opportunity or its leadership position. If companies meet the necessary requirements and high environmental standards, an investment project should not take an excessive amount of time to conduct.

BHP growth plan in Chile
 

BHP's operations in Chile represent 27% of Chilean copper production and contribute significantly to national and regional economic development, being the largest contributors in the country today, Alejandro affirmed.
 

In fiscal year 2024, BHP's assets in Chile contributed US$9.4 billion —almost 3% of Chile's GDP— in the form of royalties and taxes, through social investment, suppliers, and workforce, among others.

In this context, Escondida announced last year an investment plan of up to US$ 10.8 billion, with the optimisation of the Laguna Seca concentrator as the inaugural project, which involves an investment of approximately US$ 2.3 billion. For this initiative, the company recently began processing an Environmental Impact Declaration (DIA).

"We are prepared to start execution even this year if we obtain the necessary permit approvals," explains Alejandro.

In the case of Spence, BHP has allocated an investment of $1.3 billion for its growth plan, which includes the submission of an Environmental Impact Study (EIA) last February that seeks to extend the operation's useful life until 20392.

At Cerro Colorado, BHP is actively exploring a possible reopening for 2028, with the aim of extending the mine's life by at least 20 additional years, requiring an investment of US$ 1.3 billion3.

"This is an unprecedented growth plan anchored in our operational excellence and the highest environmental standards that will not only have a positive impact on the company but will bring substantial value to the country, its people, and the regions where we operate. At BHP, we are ready to execute," Alejandro concluded.