Chilean mining giant Antofagasta’s CEO, Ivan Arriagada, has stated that the recent US tariffs have sparked a potential risk for metal demand, particularly copper, although demand from data centres, renewable energy and AI could potentially compensate for any losses from traditional sectors.
Arriagada noted that the resilience of the copper market could withstand the trade war’s effects, reported Reuters.
He stated that Chile, as the world’s leading copper producer and a significant supplier to the US, may evade these tariffs due to its trade surplus with the US and its status as a free-trade partner.
During the CESCO copper conference in Santiago, Arriagada also highlighted the limited supply of copper, essential for construction and the transition to a greener economy.
Arriagada suggested that Trump’s policies may create a more favourable investment climate for mining.
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