Chile, Argentina, Bolivia, Peru agree strategic minerals cooperation

Chile, Argentina, Bolivia, and Peru on Thursday (27/8) signed a joint declaration to strengthen regional cooperation on strategic minerals, particularly copper and lithium, according to local media reports.

The declaration aims to encourage responsible investment, strengthen regional supply chains, and deepen cooperation on geological information, regulation, and technology development.

According to the report, the four countries are seeking to capitalise on their mineral wealth and strengthen their position as global suppliers of resources considered crucial for the energy transition and other strategic industries.

Chile’s Minister of Economy and Mining, Daniel Mas, stated that rising demand driven by the energy transition and the development of artificial intelligence (AI) could increase global demand for critical minerals by 400 to 600 per cent over the next decade, according to local media reports.

Argentina’s Mining Secretary, Luis Lucero, highlighted the region’s geological potential and said the four countries could strengthen their role in global copper production through long-term mining projects.

The declaration establishes a cooperation mechanism covering geological information, mining policy, regulatory standards, and oversight criteria, while seeking closer coordination among the four countries.

The four governments also agreed to form working groups to develop joint initiatives across various areas, including geological research, specialised training, and human resource development for the mining sector.

Chile, the world’s largest copper producer, and Argentina hold significant copper reserves, while Bolivia possesses one of the world’s largest lithium reserves. Peru also ranks among the world’s leading copper producers.

The declaration comes amid efforts by various countries to secure supplies of critical minerals needed for renewable energy technologies, electric vehicles, batteries, and advanced industries.

The agreement reflects growing efforts by South American nations to coordinate mining policies and attract investment as global demand for copper, lithium, and other strategic minerals continues to rise.