BHP and Codelco are working with mining suppliers to develop technologically advanced mining services that can be exported worldwide.
Codelco said it wants Chile to export copper as well as supplies and technological services to the global mining industry.
The companies hope that by 2020, 500 out of the 4,500 Chilean mining suppliers will become world-class exporters of mining services, according to The Australian.
BHP base metals division president Diego Hernandez said the companies will alter the suppliers' bidding procedures, enabling for contracts to allow suppliers to develop their potential.
"We want Chile to become the reference in mining education and training," Hernandez said.
The two companies control and run the Escondida, Cerro Colorado and Spence mines in Chile.
Chile, which mines 33% of the world's copper, is one of the biggest producers of lithium, iodine and molybdenum.