Wednesday, 24th August 2005 (2914 views)

Cochilco, the Chilean Copper Commission, has estimated that almost $3.6 billion will be invested in Chilean gold mining projects between 2004 and 2008.

It also suggested that the company Codelco's Esperanza project could well produce 128,000 ounces of gold each year over a 20-year period.

In a recent speech, Chile's President Lagos said: "We have never had access to international financial markets in conditions as good as we have them today, in our entire history."

The president predicted that the economic growth rate for 2005 would increase by 6.5 per cent.

These latest comments illustrate the current strength of the mining industry in Chile, which is responsible for 13 per cent of its GDP.

 

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