BHP secured approval from Chile’s Antofagasta Environmental Assessment Commission on July 7 to start early stage works for expanding the Escondida copper mine, including sulfide leaching and electricity upgrades [1, 2, 3]. The initial stage of the expansion will cost about US$1.3 billion [1, 2].
The total investment for the Chile expansion project is estimated between US$10.7 billion and US$14.7 billion, with some sources placing it near US$13 to 14.7 billion [1, 3, 2]. BHP owns a 57.5% stake in Escondida. Rio Tinto Group holds 30%, and a consortium of Japanese companies owns the remainder [1, 2].
In March 2026, BHP applied to build a new concentrator plant at Escondida with an estimated cost of US$5.9 billion [1, 2]. Last week, it also applied to restart and expand the Cerro Colorado mine in northern Chile, estimating that project at US$1.5 billion [1, 2].
BHP aims to roughly double its global copper output to over two million tonnes annually by the mid-2030s, relying heavily on successful expansions in Chile like Escondida, despite challenges including declining ore grades [1, 2].
The approval to start early works for Escondida marks a critical step in BHP’s ambitious copper growth strategy. The company will proceed next with the initial construction phases approved and seek further permits for later stages of the project.
