Experts expect the country, which accounts for more 30% of the world's copper supply, to produce 5.4 million tonnes of the metal in 2017, slightly down from the 5.5mnt it yielded last year.
Equipment and services suppliers will have to wait at least another year until they can fully feel the impact of this trend, says CSA Global — the world's second-largest mining sector consultancy.
Near the extinct volcano known as Monte Pissis, high in the Andes on the Chile-Argentina border, is a prime location for lithium, the silvery-white metal used in the production of lithium-ion batteries.
The country, already the world's second largest producer of lithium, is seeking to create private-public partnerships to exploit 61% of its resource-rich territory, currently available for licensing.