Chile hunts for copper buyers beyond China with US$100 billion mining plan

AI Summary

Chile is planning to diversify its copper buyer base beyond China by attracting around US$100 billion in mining investments over the next decade. This strategy aims to reduce Chile’s economic dependency on the Chinese market and broaden its international copper trade connections.

Chile wants to widen the group of countries buying its copper and attract about US$100 billion in mining investment over the next decade, its foreign minister said on Wednesday, in the most explicit move yet by the new government in Santiago to reduce its exposure to Chinese demand. “The market is highly concentrated and we need to broaden the number of places that buy our copper,” Francisco Perez Mackenna said at a Bloomberg summit in Singapore, part of a tour through the Asia-Pacific. He said...