Chile has boosted the amount of loans available to small copper miners to protect them from falling prices in the global economic crisis, the country's Mining Ministry said on Tuesday.
Ministry official Veronica Baraona said the government would increase the copper price stabilization fund to around $39 million from $26 million raising the price band parameters to 30 cents a pound from 20 cents a pound.
President Michelle Bachelet has made protecting jobs a priority as the nation tries to fend off the impact of the economic downturn.
Some 12,000 miners have lost their jobs over the past five months, mainly at small copper mines.
Ms Baraona said on Tuesday the new credit would help as many as 3,000 workers hold onto their jobs.
The fund allows state mining company Enami to buy copper from small miners at the spot rate, plus a buffer amount from the stabilization fund.
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