To Smelt or Not to Smelt ( Translation of an older LinkedIn post that’s still relevant ) SPCC ISASMELT (TM) Shell A Familiar Debate Resurfaces Given the high copper prices, we've seen in recent months, perhaps reaching their peak, or perhaps not, and the current momentum toward political change, along with the upcoming presidential elections, the recurring debate over whether or not to implement a new mining royalty comes to mind once again. Introducing a new royalty might seem like the “easiest” way to add value to copper, especially considering the limited scale of Chile’s manufacturing industry. But how sustainable can these measures really be? Beyond Royalties: Rethinking Value Creation So, how can we truly add value or extend the copper value chain? One big question immediately comes to mind: To Smelt or Not to Smelt? The Legacy of Extraction-Driven Development Many of Chile’s major copper mines were developed decades ago by foreign companies, whose primary goal was to secur...