According to a report by BNAmericas, the latest data from Chile’s National Copper Committee (Cochilco) shows that in 2023, 101 mining companies invested $832.7 million in mineral exploration in Chile—marking the highest level of investment since 2014 and accounting for 6.5% of the global exploration budget, an increase of 13.8% over the previous year. These companies came from the following sources: 51% from Canada, 24% from Australia, and only 14% from Chile. The primary minerals being explored are copper, gold, and lithium.
　　The report shows that, by company size, there are 88 small enterprises, 6 medium-sized enterprises, and 6 state-owned or other types of enterprises. Most of the companies exploring in Chile raise drilling funds by issuing shares on specialized stock exchanges for exploration and development.
　　The agency’s report covers 75 companies listed on the Australian Securities Exchange and the Toronto Stock Exchange in Canada.
　　Cochilco has identified 226 exploration projects at various stages and covering different minerals. Among these, 31% are in the preliminary or early exploration stage, 52% are in the mid-stage, and 17% are in the late stage.
　　More than half of the exploration targets are copper (53.1%), followed by gold (25.7%) and lithium (10.6%).
　　From a regional perspective, most of the exploration areas are located in northern Chile, with 91% situated in the five northern regions. Atacama leads the way with 100 areas, followed by Antofagasta with 50 areas and the Coquimbo Region with 30 areas.
　　Cochilco believes that Chile remains Latin America’s leading exploration destination and ranks fourth globally. In recent years, rising prices of mineral commodities—particularly copper, gold, and lithium—have been the primary driver behind the growth in exploration investment.