Chile Approves Legislation to Slash Mining Permit Times by Up to 70%

Chilean lawmakers passed the Framework Law for Sectoral Authorizations on Tuesday, aimed at cutting permitting times for mining and energy projects by 30% to 70%, responding to industry demands for faster approval processes in the world’s largest copper-producing country.

The legislation, known as LMAS (Ley Marco de Autorizaciones Sectoriales), passed with 93 votes in favor, 27 against, and 17 abstentions, and now awaits the president’s signature to become law.

“We are very happy because this is a very important advance for the country. After more than a year of processing, we have managed to approve this project with cross-party support,” Economy Minister Nicolas Grau said in an official statement. “We always said that it was possible to improve times and modernize and streamline processes in a sustained way, without lowering regulatory standards, and that is what has been achieved today.”

The new law modifies more than 40 regulations across various sectors and creates a digital system called SUPER for centralized permit processing. Officials say the platform, a ‘digital one-stop shop’, will provide end-to-end tracking and better agency coordination.

Industry groups had pushed for the changes, contending that slow approval timelines were hampering investment in Chile, which accounts for roughly 23.6% of worldwide copper production and stands as the globe’s second-biggest lithium producer.

National Mining Society president Jorge Riesco welcomed the legislation as progress while noting that further improvements remain necessary.

The reforms should particularly benefit northern Chile’s Antofagasta region, a key mining hub. Government data shows Chile’s copper market share could grow to 27.3% by 2034, helping cement its status as the top global producer despite some recent output declines.

The government emphasized that the efficiency improvements will not compromise environmental or regulatory standards.



Information for this story was found via Reuters, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Tariffs Spark New Race for Critical Metals | Rob McEwen

Antimony Resources: The Bald Hill Project

They Laughed at $3,000 Gold, Now We’re Headed for $4,000! | Sean Roosen – Osisko Development Corp.

Recommended

Steadright Begins Preliminary Economic Assessment On TitanBeach Project

Three Miners Trapped Underground At Newmont’s Red Chris Mine

Related News

Lithium Market Jumps on Policies of Newly Elected Chilean Leader That Could Ultimately Cut Production Levels

The mid-December 2021 electoral victory of Gabriel Boric, a 35-year-old leftist candidate and former student...

Sunday, January 16, 2022, 01:28:00 PM

Interest in Chilean Lithium Projects Soars with Over 50 Companies Expressing Interest

The Chilean government’s ambitious push to expand its lithium industry has garnered significant international interest,...

Wednesday, June 19, 2024, 03:41:00 PM

Albemarle Confident New Chile Gov’t Won’t Affect Lithium Operations: “We Have A Unique Contract”

Chemicals firm Albemarle Corp. (NYSE: ALB) seems to be unfazed by the results of Chile’s...

Friday, December 24, 2021, 12:27:00 PM

Chile Proposes Changes To Mining Royalty Bill, Sets Flat 1% Ad Valorem Tax Rate

Chile’s finance ministry has proposed changes to the mining royalty bill that drew flak from...

Saturday, October 29, 2022, 11:10:00 AM

Chile Elects a Socialist New President, Is The Copper Mining Industry At Risk?

On December 19, Gabriel Boric, a 35-year-old leftist candidate and former student protest leader, decisively...

Tuesday, December 21, 2021, 03:49:00 PM