Minerals and economic development in Chile
Minerals and economic development in Chile Mining, historically the mainstay of the
Chilean economy, has been a catalyst for both external commerce and domestic
industrial development. Copper, molybdenum, iron, nitrates, and other
concentrated minerals structure an outsized a part of the entire value of
national exports.
Metals account for the very best percentage of mining
exports, copper being primary. Chile is that the world’s largest producer and
exporter of copper. Copper mines are located in northern Chile and along the
Andes of north-central Chile . Minerals and economic development in Chile - Small-scale extractions are administered by
individuals, or pirquineros, who operate within the uplands of north-central
Chile and within the coastal ranges of central Chile. Medium-sized activity is
conducted by companies with larger investment capacities and with their own
treatment plants. Large-scale mining was developed with U.S. capital at the start
of the 20th century.
Copper plays the role within the Chilean economy that was
occupied by nitrates before war I. the massive U.S. corporations were
tranformed into mixed-ownership enterprises during the late 1960s and totally
nationalized during the first 1970s, when mining and sales were turned over to
the Corporación Nacional del Cobre de Chile (Codelco). Minerals and economic
development in Chile - A drop by world
market prices influenced production and sales and created financial hardship.
During the 1990s the govt enacted new laws to open up the industry to
non-public companies, but the bulk of copper mines in Chile are still
controlled by the state (Codelco). By the first 21st century, demand for copper
had risen, and copper accounted for about two-fifths of export income.
Iron-ore mining in El Tofo and El Romeral, both in
north-central Chile, is critical , and manganese, silver and gold, and
molybdenum (a metal derived from the massive copper deposits) also are mined.
Among nonmetallic minerals, sulfur, gypsum, lithium, and limestone are moderately
exploited. Minerals and economic development in Chile Nitrate deposits occur within the northern
interior desert. Their value , so important during the 19th century, has
decreased, but the assembly of iodine, a by-product of nitrate, is of major
importance.
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