SANTIAGO, April 17 (Reuters) - Chilean President Gabriel
Boric told a major copper industry conference on Wednesday he
expects production at state-run miner Codelco to grow slowly
this year and reach 1.7 million metric tons by 2030, and that
he sees copper prices rising.
"The Codelco production will rebound," he said, offering a
vote of confidence for the country's top copper producer whose
output last year hit a quarter-century low, at 1.325 million
metric tons.
Boric's comments came in a surprise appearance at a
gathering of top global copper executives and analysts at CESCO
Week, which alongside the CRU World Copper Conference, makes up
the biggest annual gathering of sector professionals.
At a time when global companies have raised concern about
long approval times for new mines and expansions, he said Chile,
the world's biggest copper producer, is dedicated to speeding up
the permitting process for mining projects.
He also stressed the need for greater economic distribution
of mining industry profits to local communities.
As well, Boric said one of Chile's strong suits was ensuring
long-term security for investors.
"Long term mining projects work when there is greater
certainty, when there are clear rules for all," he said.
"Investments are also based on the perception of trust. And that
is something intangible."
When Boric said he believed this attitude should underscore
Chilean policy no matter who is president, the room of nearly
2,000 attendees burst into applause.
He said Canada-based Teck Resources' ( TECK ) CEO Jonathan
Price had remarked in a recent meeting that the company might
not have invested in copper mine Quebrada Blanca if it had known
it would have taken 10 years to get off the ground, but he was
proud of the project.
The mine's expansion last year was among the biggest mining
investments in Chile in a decade.
Boric also talked about the government's efforts to boost
lithium production, praising the benefits of public-private
partnerships at a time when Codelco is tasked with spearheading
such partnerships in Chile's lithium industry.
A process meant to encourage private investment in lithium
kicked off just this week, he said, adding that he expected
output of the ultralight metal to double in a decade.