Right-wing candidate Sebastian Pinera won Chile’s presidential election following a wider than expected margin on Sunday. Pinera, seen as a pro-business candidate, was also labeled by the press as a “pro-mining” politician. Chile is a major global producer of copper and one of the largest iron ore producing countries in Latin America. Prominent iron and steel companies include Andes Iron, CAP Mineria and CAP Acero.
Pinera has promised to back Chilean state-owned copper miner Codelco and said it would boost projects that have been bogged down by former president Michelle Bachelet.
As a billionaire, Pinera has also promised to lead Chile into a more business-friendly way, as compared to center-left predecessor.
Pinera was president of Chile from 2010 to 2014.