Chile, Argentina, Bolivia, and Peru Sign Joint Declaration on Critical Minerals

In a significant move to bolster regional influence in the global market, the governments of Chile, Argentina, Bolivia, and Peru have signed a joint declaration on critical minerals. The agreement, inked in Santiago, aims to enhance the region's collective strategic positioning as a key partner for the supply of essential resources like copper, lithium, and rare earths.

The declaration was signed by the respective mining ministers and officials from each nation. It emphasizes the shared goal of "fostering responsible investment and economic development along the entire value chain of the regional industry." The initiative also plans to explore technical and institutional cooperation between mining bodies, including the exchange of experiences in areas such as regulation, geology, public policy, and human capital development.

Chile's Minister of Mining, Daniel Mas, hailed the declaration as "the first firm step towards a permanent alliance," envisioning the "Southern Cone" as the most reliable, sustainable, and competitive provider of strategic minerals. He highlighted the escalating demand for these minerals, driven by the energy transition and artificial intelligence, noting that demand is projected to increase by 400% to 600% in the next decade.

Officials from Argentina, Bolivia, and Peru echoed these sentiments, emphasizing the potential for increased production, particularly of copper from Argentina, and the importance of shared vision in this long-term industry. The agreement is expected to facilitate the exchange of experiences, promote responsible investments, strengthen reliable supply chains, and foster greater productive integration, ultimately leveraging the region's strategic resources to generate added value and address social and economic disparities.