Latin America Seeks to Transform Its Mineral Wealth into Jobs and Development

A regional dialogue in Santiago explored how mineral wealth can generate jobs, innovation, infrastructure, and local development. Latin America is home to some of the world's most important copper and lithium reserves, positioning the region at the center of the global energy transition. As demand for critical minerals continues to grow, countries across the region are exploring how to translate natural resource wealth into broader economic opportunities and sustainable development. That question was at the heart of "From Resources to Jobs: The Value of Minerals for Latin America," an event held in Santiago, Chile that brought together government officials, mining executives, multilateral organizations, ambassadors, and international experts to discuss how mining can create greater value through employment, industrialization, infrastructure, and territorial development. Chile's Minister of Economy and Mining, Daniel Mas, emphasized the central role of employment in the mining sector “The first link in the virtuous cycle of mineral wealth is the generation of formal, high-quality employment, with specialization, good wages, and opportunities for families. Its impact goes far beyond large corporations: behind every mining operation there are thousands of small and medium-sized enterprises providing services, metalworking, software, transportation, and innovation. The challenge is to continue strengthening this productive ecosystem.” According to the World Bank Group, much of the potential value from mining is created beyond extraction itself. As Namrata Thapar, Global Director for Metals and Minerals at the World Bank Group, noted: “Latin America has a significant opportunity to translate its mineral wealth into jobs, growth, and development. The greatest gains will come from everything that happens around the mine—including supplier industries, processing, infrastructure, logistics, and workforce development”. She added that “the countries that move fastest and farthest will be those that combine resource potential with stable legal framework, high environmental and social standards, and the ability to attract responsible private investment”. The event examined four key areas that can help countries capture more value from their mineral resources: quality employment, industrialization, strategic infrastructure, and territorial development. Participants represented government, industry, academia, and development institutions from across the region. Julio Pertuzé, President of Fundación Chile, highlighted the importance of regional collaboration: “The geopolitical context, the energy transition, and the growing demand for critical minerals represent a historic opportunity for Latin America. We must seize it,” adding that “we firmly believe that the most relevant challenges are best addressed through collaboration among all stakeholders. This capacity for coordination, which has characterized us, is precisely what we aim to bring to today’s discussion.” The World Bank Group also reiterated its commitment to supporting Chile's efforts to increase the development impact of its mineral resources. Jean-Marc Arbogast, World Bank Group Country Manager for Chile, said: “We want to be a strategic partner for Chile in advancing toward a more competitive mining sector and in multiplying the value of its minerals, generating quality jobs, new capabilities, investment, and opportunities for people. This agenda is also linked to water security, the energy transition, infrastructure, and innovation—essential factors for mining that is sustainable and has a greater impact on development.” A recurring theme throughout the discussions was the need for stronger collaboration among governments, companies, suppliers, academic institutions, and communities. Participants agreed that expanding local supply chains and strengthening relationships with communities will be essential to transforming mineral wealth into employment, industrialization, and territorial development across Latin America. The event was supported by the Extractives Global Programmatic Support (EGPS) through This event was funded by the Extractives Global Programmatic Support (EGPS), through its Resilient and Inclusive Supply Chain Enhancement Partnership (RISE) with support from Australia, Belgium, Canada, France, Japan, Korea, Italy, the Netherlands, and the United Kingdom, to strengthen sustainable supply chain development in the mining sector.