Naperville, IL -- (ReleaseWire) -- 06/16/2014 -- Reportstack, provider of premium market research reports announces the addition of Chile Mining Report Q3 2014 market report to its offering
We forecast modest mining sector growth of 1.2% on average per annum in Chile through to
2018, a downgrade from our last forecast to better reflect the effect of weaker copper prices on the sector.
We anticipate major miners will continue to develop several large projects, as the country's political and
business environments remain stable and the country possesses significant mineral reserves. Yet elevated
operational costs, regulatory changes, and subdued copper and precious metal prices will limit sector
growth and should result in more conservative expansion and acquisition plans among major miners.
We expect copper production will remain the backbone of the Chilean mining sector for the foreseeable
future, with copper accounting for nearly 60% of the country's total exports. The pipeline of copper projects
and the country's global dominance in copper production will ensure the country's lead despite falling ore
grades and more modest production growth. However, our forecast for both ample global refined copper
supply to 2018 and slowing Chinese fixed asset investment growth, leads us to anticipate continued copper
price declines over our five-year forecast period. Indeed, we see prices averaging lower on a y-o-y basis in
2014 at USD6,800/tonne. Despite weakness in 2013, copper prices remain elevated by historical standards,
encouraging production for the time being as major miners and smelters maintain profitability.
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