Chile recorded a record in gold production in October 2025, with 4,347 kilos of fine gold, the best month since 2012. The year-to-date total through that month reached 36,208 kilos, similar to 2015 and 27% higher than 2024. This rise is driven by projects like Salares Norte and favorable metal prices.
In October 2025, Chile's gold production reached 4,347 kilos of fine gold, marking the best result for that month since 2012, according to the Chilean Copper Commission's (Cochilco) report. This milestone occurs amid high metal prices, which hit a record of US$2,338.25 per ounce on October 20 in the London Metal Exchange.
The year-to-date total through October amounts to 36,208 kilos of fine gold, close to the 36,286 kilos reported in 2015 and a 27% increase from the same period in 2024. Key projects like Gold Fields' Salares Norte and the ramp-up at Kinross' La Coipa have significantly contributed to this boost, along with incentives to produce more gold as a copper mining byproduct given attractive prices.
Additionally, Chile set another record in silver, with 122,310 kilos in October, the best monthly figure of 2025 and since 2020. The annual silver total reaches 1,076,700 tons, an 9.8% year-over-year rise. Silver prices have also been favorable, hitting US$51.100 per ounce on October 17 in London and US$63.929 on the Comex on December 11.
Daniela Desormeaux, minerals expert economist at Cesco, explains that 'there is a favorable industry context internationally for gold. Unlike other commodities, its behavior mainly responds to global macroeconomic and financial factors.' She adds that demand from investors and central banks has strengthened gold's role as a store of value, especially with stabilizing real rates and a weaker dollar.
Globally, Chile ranks 25th in gold production, behind nations like China, Russia, and several in Latin America such as Mexico and Peru. Gold and silver are mostly obtained as copper mining byproducts, but high prices make primary projects viable.
