Prime Highlights
- Codelco is positioning rhenium as a key growth opportunity, driven by rising demand from aerospace and other advanced technology sectors.
- The company sees potential to expand production and create additional revenue by extracting more value from copper mining byproducts.
Key Facts
- Codelco produces about 5 tonnes of rhenium annually, accounting for roughly 10% of global supply.
- Around 80% of global rhenium demand comes from the aerospace industry, where it is used in aircraft turbine superalloys.
Background
Codelco says rhenium is becoming an increasingly valuable business opportunity as demand grows across advanced technology sectors.
Codelco currently holds around 10% of the global rhenium market, producing approximately five tonnes per year as a byproduct of copper production. Chile as a whole accounts for nearly half of a global market valued between 200 million and 250 million US dollars annually, with total supply running at around 60 tonnes per year.
The company extracts rhenium from copper concentrates at four of its divisions, Chuquicamata, El Teniente, Andina, and Salvador. It then processes the mineral at its subsidiary Molyb in Mejillones, in the Antofagasta region, before selling it to customers in North America, which takes 50%, followed by China at 28% and Europe at 22%.
Rhenium’s appeal comes from its physical properties. It carries one of the highest melting points of any metal and holds up under extreme temperatures, making it a critical input for industries that operate in demanding conditions.
Around 80% of global rhenium output goes into aerospace, where manufacturers use it in superalloys for commercial and military aircraft turbines to improve fuel efficiency and extend the life of engine parts. It also finds use in medical and scientific instruments.
Codelco said rhenium gives the company a way to turn what would otherwise be waste into revenue. “Our rhenium production confirms Codelco’s ability to diversify its product portfolio and respond to the needs of strategic industries at a global level,” the company said.
Looking ahead, Codelco sees room to grow. Rising international air traffic is pushing up demand for aerospace components, and Chile’s copper output gives the country a natural pipeline to scale rhenium production.
Under President José Antonio Kast’s administration, stronger public policies around research and recovery could open new doors for companies operating in the sector.
