Chile In this project we are going to summarize the main points concerning the history of CHILE , its independance, and bring the country to present day CHILE. We are also going to mention some important facts about CHILE"S economy. I. COLONIZATION PERIOD CHILE is a country located in the wester coast of South America, on the Pacific Ocean. It is known for the famous Andes Mountain Range that covers all of Peru and part of Chile CHILE was first discovered in 1520 by a Portuguese navigator named Ferdinand Magellan, who sailed under the flag of Spain. It was not until 1536 that CHILE was explored by a Spaniard named Diego de Alma