BHP has revealed plans to invest $US13 billion ($20.5 billion) over the next decade to grow its copper operations in Chile.
The Big Australian currently operates three copper mines in Chile: Spence, Cerro Colorado and Escondida, the latter of which is known as the largest copper producer globally.
BHP’s copper operations in Chile represents 27 per cent of the country’s copper production, injecting $US9.4 billion ($14.8 billion) into Chile’s gross domestic product via royalties and taxes in 2024.
Speaking at the 2025 CRU World Copper Conference, BHP Escondida president Alejandro Tapia said Chile must act with urgency if it wants to execute growth copper projects to meet growing copper demand, which BHP expects to increase by 70 per cent by 2050.
“The competition will be tough abroad, and Chile cannot miss the opportunity or its leadership position,” Tapia said.
“If companies meet the necessary requirements and high environmental standards, an investment project should not take an excessive amount of time to conduct.”
Key growth copper projects for BHP includes:
- Escondida’s investment plan of up to $US10.8 billion, including an initial $US2.3 billion optimisation project at the Laguna Seca concentrator plant
- $US1.3 billion to extend Spence’s mine life until 2039, following its environmental impact study being submitted in February 2024
- $US1.3 billion to extend Cerro Colorado’s mine life by at least 20 more years, with a possible reopening for 2028 currently being assessed.
“This is an unprecedented growth plan anchored in our operational excellence and the highest environmental standards that will not only have a positive impact on the company but will bring substantial value to the country, its people, and the regions where we operate,” Tapia said.
“At BHP, we are ready to execute.”
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