Long term fundamentals of the bellwether metal remain intact however according to new note from debt ratings agency.

2020 was one of its best years in nearly a decade in terms of mineral exploration spending for the province.

Analysts say any slowdown effects in the mining sector will be offset by Biden’s plans to support domestic production of metals used in EVs, solar panels and green technologies.

While Chile is well prepared to operate through a second wave of infections, eventually output could suffer.

The project's cost is now pegged at $1.7 billion.