Santiago, June 15, 2026 – Chile is not only the world's leading copper producer. Associated with this metal are other byproducts, such as rhenium, one of the rarest minerals on the planet and strategic for key industries in the global economy, such as aerospace. Global rhenium production totals approximately 60 metric tons annually, representing a market of between US$200 and US$250 million. Chile accounts for 50% of total production, with Codelco alone handling 10%, equivalent to about five metric tons per year.

The rhenium market is small compared to other metals. It's far from the 23 million tons of copper produced annually worldwide, the 300,000 tons of fine molybdenum, or the 4,000 tons of fine gold. This low availability is due to the fact that rhenium is not mined directly, but is obtained primarily as a byproduct of molybdenum processing.

In the case of Codelco, rhenium is extracted from concentrates produced at the Chuquicamata, El Teniente, Andina, and Salvador divisions, and processed at the facilities of its subsidiary Molyb in Mejillones. From there, it is sold primarily to customers in North America (50%), China (28%), and Europe (22%).

“Our rhenium production confirms Codelco’s ability to diversify its product portfolio and respond to the needs of strategic industries globally, ensuring that Chile remains a reliable supplier of critical minerals,” says Braim Chiple, Codelco’s Vice President of Marketing.

Rhenium is one of several metals that Codelco extracts and sells as byproducts in its various operations. These include molybdenum, gold, silver, and sulfuric acid. “These products represent a strategic contribution for Codelco: they generate new revenue streams, expand the company's offerings, and transform waste into value, strengthening our commitment to sustainability,” the executive added.

High temperature resistance

Rhenium is a metal with exceptional properties: its extremely high melting point and resistance to extreme temperatures make it an indispensable raw material for sectors with high technological demands. Global demand is concentrated primarily in the aerospace industry, which uses around 80% of the world's rhenium in superalloys used in turbines for commercial and military aircraft. "Thanks to rhenium, engines achieve greater energy efficiency, extend the lifespan of their components, and increase operational safety under extreme conditions," explains Angelo Rabagliati, Marketing Manager for Byproducts.

Another important use is in the petroleum industry, where it is used in catalysts that improve the refining process. It is also used in specialized applications in medical instrumentation and scientific equipment.

Codelco's presence in the rhenium market not only strengthens its international position but also opens opportunities to innovate in production processes and generate added value in a highly specialized segment. This market presents growth opportunities in the coming years, given the progressive recovery of international air traffic and the development of more efficient engines, which are restoring visibility to rhenium's strategic role in the medium and long term.

Internationally, rhenium has been designated a strategic or critical mineral in several jurisdictions due to the concentration of its production—in addition to Chile, it is produced in the United States, Poland, China, and some Central Asian countries—; the difficulty of substituting it in key applications; and its connection to sensitive industries such as aerospace, defense, and energy. In this context, Chile's participation in the global rhenium market constitutes a strategic asset, reinforcing the country's position as a reliable supplier of essential minerals for the global technological and production transition.

Codelco