Fundación Chile and World Bank Group promote regional dialogue on mining potential in Latin America

• At the event “From Resources to Employment: The Value of Minerals for Latin America,” authorities, multilateral organizations, mining executives, and international experts analyzed how the region can capture greater value from mining, focusing on employment, industrialization, infrastructure, and territorial development.

With the participation of authorities from Chile and Latin America, representatives of the World Bank Group, ambassadors, mining executives, multilateral organizations, and international experts, the event “From Resources to Employment: The Value of Minerals for Latin America” was held in Santiago, organized by Fundación Chile and the World Bank Group.

This activity was supported by the Extractives Global Programmatic Support (EGPS), through its Alliance for Strengthening Resilient and Inclusive Supply Chains (RISE), an initiative that brings together partners such as Australia, Canada, Switzerland, the Netherlands, Japan, Italy, and the United Kingdom, among others, to strengthen the sustainable development of supply chains in the extractive sector.

The international dialogue took place in a context where the region possesses some of the world’s most significant copper and lithium deposits. In this regard, the new president of Fundación Chile, Julio Pertuzé, stated that “The geopolitical context, the energy transition, and the growing demand for critical minerals represent a historic opportunity for Latin America. We must seize it,” and added that from Fundación Chile, “We firmly believe that the most relevant challenges are best addressed when there is collaboration among all stakeholders. This capacity for articulation that has characterized us is precisely what we want to put at the service of today’s conversation.”

Chile’s Biminister of Economy and Mining, Daniel Mas, placed special emphasis on job creation in the sector and affirmed that “The first link in the virtuous circle of mining wealth is the generation of formal, quality employment, with specialization, good salaries, and opportunities for families. Its impact goes far beyond large companies: behind every operation there are thousands of small and medium-sized service, metalworking, software, transport, and innovation companies. The challenge is to continue strengthening this productive fabric.”

During the meeting, four key areas for capturing greater value from mining were addressed: quality employment, industrialization, strategic infrastructure, and territorial development. Participants included, among others, Namrata Thapar, Global Director for Metals and Mining at the World Bank Group; William Maloney, Chief Economist for Latin America and the Caribbean at the World Bank Group; Joaquín Villarino, Executive President of the Mining Council; Jorge Cantallopts, Executive Director of Cesco; Carolina Vásquez, General Manager of Sonami; Karolina Guay, Ambassador of Canada to Chile; Iván Arriagada, Executive President of Antofagasta Minerals; Gloria Hutt, President of Copsa; Eduardo Bitrán, researcher at Universidad Adolfo Ibáñez; Carolina Rojas, Head of Mining at the IDB; Miguel Vargas, Governor of Atacama; and Gustavo Fernández, Minister of Production, Labor, and Innovation of San Juan, Argentina.

The World Bank Group Country Manager for Chile, Jean-Marc Arbogast, indicated that “We want to be a strategic partner for Chile to advance towards more competitive mining and multiply the value of its minerals, generating quality jobs, new capacities, investment, and opportunities for people. This agenda also links to water security, energy transition, infrastructure, and innovation, essential factors for sustainable mining with a greater impact on development.”

Reflecting on employment, capabilities, innovation, and supplier development from mining, Fundación Chile’s General Manager, Hernán Araneda, stated that “Mining not only generates foreign exchange and employment: it also opens concrete opportunities for the economic and social development of territories. The challenges facing Chilean copper mining today—such as declining ore grades and new operational demands—can become a platform to drive research, innovation, and local capabilities. We must strengthen a collaborative ecosystem of suppliers, services, and ventures around the industry. It is a long-term path in which we must persevere.”

During the meeting, there was consensus among participants on the importance of advancing a shared agenda and promoting active public-private partnerships, impressions gathered by Fundación Chile’s Expande team. One of the main conclusions was that sustained collaboration among the State, companies, suppliers, academia, and communities will be key to transforming Latin America’s minerals into employment, industrialization, and territorial development. In this regard, articulation with local suppliers and a new approach to communities appear as fundamental bases for strengthening the sense of territorial belonging and capturing greater value from mining. As noted in the exercise, the challenge now is to move from intention to execution, with leadership, long-term coordination, and a shared agenda that allows converting the region’s mineral potential into sustainable development.