Mining - Chile Chile is the world's largest producer of copper and a major producer of gold.
Chile is also rich in molybdenum, manganese, iron ore, nitrates, iodine, lithium and coal.
The development of Chile's gold and silver resources is an important part of the government's attempt to diversify mining production. The most obvious change to the Chilean mining industry has been the meteoric rise of private investment. The result is that there are now 50 leading mining companies resident, including Exxon, Phelps Dodge, Cyprus Minerals, BHP Minerals, Placer Dome, Cominco, Outokumpu, Anglo-American and Rio Algom. The success of the private sector, excellent profits and a flurry of new financings for mines, has meant that Codelco had difficulty remaining competitive. Further smaller projects have followed, and Codelco is discussing sources of fresh funds for further investment, the most probable source being Chile's private pension funds.