This is mainly due to the rise in copper prices and external demand, according to the sixth "Mining Signals" index, prepared by Vantaz Group and CESCO.
Vantaz Group and CESCO released the results of the 6th Signals of Mining Index. The event, which brought together different actors of the mining ecosystem, highlighted an optimistic outlook for the Chilean mining industry.
Daniela Desormeaux, Director of Research at Vantaz Group, and Constanza Araya, Research Coordinator at CESCO, presented the main indexes of the study, based on a sample of more than 300 industry representatives.
This sixth version, like the previous ones, aims to know the perception of the mining ecosystem on the dimensions that influence the development and growth of the sector.
In general terms, this version highlights an upward trend in expectations for the Chilean mining industry, due to the positive outlook for copper prices and external demand. However, challenges persist in terms of production and investment, central aspects of the sector that must be addressed urgently and with a sustainable perspective.
In this sense, the current optimism is reflected in the overall results of this index, which this year increased 17 points with respect to last year's sample, from 55 in 2023 to 72 in 2024.
With these results in sight, Mauricio Ortiz, CFO and VP of Finance of Antofagasta Minerals, who participated in the conversation to analyze the results together with Juan Cariamo, partner of Vantaz Group, stated that “it is always good to see that we are optimistic, it is a positive way to face the challenges we have as an industry, which are not few. There is a valuable point here, if we compare the figures from 2021 to 2024, the conversations on the use of copper have matured, we see a virtuous circle; today the basis for investment is transition and energy security”.
In this regard, Daniela Desormeaux said, “we see an improvement in the outlook, mainly associated with the external fundamentals of the copper market, i.e., demand and prices. However, a level of pessimism persists in relation to the environment, a situation that will improve slightly in the medium term. In spite of this, expectations regarding production and investment are stagnant, and the main concern of the sector is to maintain competitiveness”.
It is important to note that, in this sixth edition, for the first time, perceptions regarding the development of new projects were asked. The results indicated high expectations, with a total index of 70, suggesting that there could be a strong momentum in future investment and production. However, the main concerns center on the economic and social situation, as well as the regulatory and environmental environment.
Check the complete 2024 index here
