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Beyond copper: Cochilco bets on Chilean gold to increase production by 28% in 2024

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The Chilean Copper Commission (Cochilco) has drawn attention to the metal’s “huge potential”, with a final investment projected to be priced close to US$2,835 million.

Report of the Chilean Copper Commission (Cochirco) revealed the final result 28.6% increase in the production of Chilean gold Towards 2024.

This was confirmed with the launch of the project Salares Norte of Goldfields and La Coipa of Kinross, will be the sum of 45 tons.

As a result of this, Cochilco has flagged the use of Chilean gold, warning of the diversification of its uses. in technology and industry.

in conversation with him financial journal, Director of Research and Public Policy for the Entity, Victor Gary We have detailed the possibilities of this metal.

“Gold mining in Chile is very important. Considering the value of gold projects on the Mining Investment Register of Cochilco 2021-2030 to reach USD 2,835 million, Said.

Chilean gold production

In this context, attention should be paid to gold production in Chile. mainly secondary As copper is given greater relevance in international markets, London Metal Exchange.

It is also extracted as a by-product of mining the same copper and other metals, Only 33% are from gold deposits, As confirmed by Cochilco this afternoon.

Gold is the favorite metal among investors, according to the Federal District, revealed earlier this year. When prices rose due to the war between Russia and Ukraine.

This impulse began to wane with rising interest rates in the United States, This has made financial investments more attractive.

gold price registered in august US$1,712.4 per ounce, It recorded a drop of 5.9% compared to the last price of 2021. This date was the last day that the maximum value was registered for that value. When each gram of gold to pawn costs a total of $14,000.

Nonetheless, market fundamentals argued for higher prices, and in light of this, Cotilco estimated a tightening of the gold market. Supply will grow 1.8% this year, while demand will grow 2.3%.

Source: Biobiochile

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