Economy
Mining accounts for 45% of the region’s GDP and 90% of its exports. Moreover, various geological surveys have identified new deposits.
Iron ore mining is the most dynamic activity and there are numerous small-scale mines, which sell their output to ENAMI (the national mining company) for processing at its Paipote smelter. The region’s main copper deposit is Candelaria, which produces around 200,000 tonnes per year and is controlled by Phelps Dodge, an international corporation. The next in size is El Salvador, owned by CODELCO, with an annual output of around 81,000 tonnes. Both mines export through the port of Chañaral.
Over recent decades, fresh fruit also emerged as regional export item, when the Copiapó and Huasco valleys joined Chile’s fruit-growing boom. They enjoy a comparative advantage because, thanks to the sunny climate, fruit ripens earlier than in the rest of the country and reaches northern hemisphere markets first.
Grapes are the main crop and, on a smaller scale, olives, tomatoes, peppers, onions, broad beans, citrus fruits, nectarines, apricots, oregano, and flowers.
The region’s organic wealth, its clear waters and sheltered bays, together with its entrepreneurial experience, favor the development of aquaculture. Species produced include the northern scallop, Japanese and Chilean oysters, abalone, turbot, algae, and different varieties of mussels. Other products with more value added include boned fish fillets, smoked and salted fish, roe, and fishburgers.
Read more about this topic: Atacama Region
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