The second fatality was found on Saturday, reports Reuters.
"This discovery fills us with sorrow, but it also tells us that we are searching in the right place", says Andres Music, CEO of the mining operation, in a statement.
On Thursday, the first victim was reported after a part of the mine collapsed following seismic activity.
At a depth of 900 meters in the copper mine, the four remaining workers are trapped behind around 20 meters of rubble. The rescue operation is moving step by step towards them.
Around 100 people are participating in the operation. It is still unclear if the four are alive.
Chile accounts for nearly a quarter of the world's copper production, and the mine produced almost seven percent of the country's copper last year.
