Chile’s Enami in Talks with Global Firms to Finance $1.4 Billion Smelter Project

Santiago, Chile – In a strategic move to bolster its mineral processing capabilities, Chile’s state-owned National Mining Company (Enami) has entered into discussions with international manufacturers and trading firms for financing its ambitious new copper smelting project, projected to cost over $1.4 billion.

The initiative is part of Chile’s broader plan to modernize and expand its copper refining infrastructure, reducing reliance on outdated facilities and aligning with stricter environmental regulations. The proposed smelter would not only enhance processing capacity but also support small and medium-sized mining operations across the country that depend on Enami for ore treatment.

Strategic Investment in the Copper Capital

Chile, the world’s largest copper producer, is intensifying efforts to retain more value from its vast mineral wealth by investing in downstream capabilities such as smelting and refining. The proposed Enami smelter is expected to be a cornerstone of this effort, offering a significant boost to the local economy and ensuring long-term sustainability in the copper supply chain.

“We are advancing conversations with various global players—both manufacturers and trading companies—who have expressed interest in becoming partners in this strategic project,” said Enami President Jaime Pérez de Arce. “This is a unique opportunity to build a modern, efficient, and environmentally responsible facility that meets both local and international demands.”

Financing and Partnerships

Enami’s $1.4 billion-plus smelting plant will likely rely on a mix of private and public investment. While no specific companies have been named, sources indicate that firms from Asia and Europe are among those engaged in talks, attracted by Chile’s stable investment environment and the critical role copper plays in the global energy transition.

The smelter is envisioned to replace the antiquated Paipote facility, which has struggled to comply with stricter emissions standards. The new plant aims to incorporate cutting-edge technology to meet global environmental benchmarks, making it a model for sustainable copper processing.

Supporting the Small Mining Sector

Unlike major mining corporations that operate their own smelting infrastructure, small-scale miners in Chile often depend on Enami’s facilities to process their ore. The new smelter will ensure continuity for these operators and contribute to more equitable participation in the mining economy.

This is not just an investment in infrastructure,” said Pérez de Arce. “It’s an investment in the future of Chilean mining, especially the thousands of smaller producers who are vital to the social and economic fabric of the country.