Chile Mining Equipment
Growth in the Chilean Mining Sector
Published in January 2026, Chile’s National Strategy for Critical Minerals, together with the 2023 National Lithium Strategy, highlights Chile’s position as a global supplier of critical minerals essential for advanced technologies. Chile holds the world’s largest lithium reserves and remains the top copper producer. The new strategy outlines a plan to build on these advantages and identifies the expansion of copper, lithium, cobalt, and rare-earth elements production as national priorities. These raw materials are used in semiconductors, data centers, satellites, electric vehicle motors, fiber optic networks, and other technologies.
President Kast’s early actions signal Chile’s intent to deepen cooperation with the U.S. on critical minerals and streamline regulations. One of President Kast’s first actions upon taking office in March was the signing of a landmark joint declaration with the U.S. on critical minerals and rare earths. This was followed by a bilateral mining cooperation and security agreement in April 2026 to guarantee supply chain integration and attract U.S. capital. In May 2026, the Kast Administration submitted a bill to the Chilean legislature that would simplify the Mining Code, eliminate the progressive tax increase, and facilitate the growth of small- to medium-size mining companies, which may further expand market opportunities.
This policy direction is supported by commitments from the private sector. According to Chile’s National Society of Mining (SONAMI), total investment in Chilean mining is expected to reach $26.8 billion between 2025 and 2029, though capital commitments for 2026 are lower than those in 2025. For example, two large U.S. companies have announced large-scale investment plans in the Chilean mining sector. Freeport-McMoRan, in partnership with Chile’s state-owned Codelco, is advancing a $7.5 billion copper mining expansion project that is currently undergoing the environmental permitting process. Likewise, Albemarle has announced its intention to build a $3.1 billion direct lithium extraction (DLE) plant and has submitted the Environmental Impact Assessment (EIA) for the project.
Securing the U.S. supply chain of critical minerals is a strategic priority. In a January 2026 proclamation, President Trump announced that the U.S.’s supply chain presents “a significant national security vulnerability” and ordered negotiations with trading partners to protect U.S. access to critical minerals. In parallel, the Congressional reauthorization of the U.S. Development Finance Corporation (DFC) expanded the scope of the DFC, making high-income countries like Chile eligible for DFC investment.
Commercial Opportunities
U.S. mining equipment and machinery remains in high demand, with Chilean imports rising 24% from 2024 to reach $1.6 billion in 2025. A 2023 Chilean government report on mining inputs identifies U.S. firms as major suppliers of grinding balls, off-highway mining truck tires, and haul trucks—three of the four inputs deemed most critical by the report. This market demand validates the strong reputation of U.S. technology, which is highly regarded for its superior quality and dedicated customer service.
Opportunities for U.S. companies include autonomous drilling and hauling, predictive maintenance sensors, tailings stability monitoring technology, water-efficient crushing, flotation and extraction equipment, and water and energy infrastructure technologies.
Please contact the U.S. Commercial Service in Chile to learn more.