Minera Antofagasta says it looks with “concern” at uncertainty and political polarization in Chile

The Chilean Antofagasta, one of the world’s largest producers of copper, looks with “concern” at the increase in uncertainty and polarization in the South American country, which on Sunday will host a presidential election marked by extreme positions at a time that also drafts a new Constitution.

In an interview published on Saturday by the newspaper La Tercera, the executive president of the mining company, Iván Arriagada, said that beyond the results of the elections, it is important to reject violence as a source of pressure and “find spaces for understanding” so that the mining “can continue to contribute to the challenges facing the country.”

“What we have seen in the last year and a half is an increase in the levels of uncertainty due to political discussion and a significant degree of polarization. Those are factors that we undoubtedly look at with concern ”, he stated.

Chile is the world’s largest copper producer. Polls show that the favorite candidates to win on Sunday are ultra-conservative lawyer José Antonio Kast and left-wing congressman and former student leader Gabriel Boric, who would face off in a December ballot.

The elections take place two years after a social outbreak against inequality that brought many people to the streets. Many of the protests ended in clashes with the forces of order.

The mobilizations opened the door to the drafting of a new Constitution by an elected body made up mostly of independent candidates and a left-wing coalition with the Communist Party.

The mining companies that operate in Chile have shown concern about the uncertainty about the contents that the convention will debate and have underlined the importance of maintaining the rules of the game that have allowed the evolution of the sector in the country.

On the other hand, Arriagada also said that the copper market has good long-term fundamentals, with sustained demand, which is why they expect current prices – above 4 dollars per pound – to remain for the next 12 to 18 months, although they also expect greater volatility.

The values ​​of the red metal have had a solid advance this year, even reaching record highs, due to good expectations about the global economic recovery after the coronavirus pandemic.