In Chile’s Big Mining Shake-up, Radical Moves Remain a Long Shot
- Motions approved by committees face sterner test in plenary
- Massive compensation to private miners is another downside
Pipes to pump brine from pools at the Albemarle Corp. Lithium mine in Calama, Chile.
Photographer: Cristobal Olivares/BloombergThis article is for subscribers only.
Chile’s mining industry may be facing its biggest shake-up since nationalizations of the 1970s as an assembly dominated by leftists and independents drafts a new constitution. But there’s reason to think the most radical proposals won’t fly.
On Tuesday, the assembly’s environmental committee approved a proposal to nationalize copper and lithium mines. Last week, the same body voted in favor of annulling mineral operations that infringe on indigenous lands. Either of those measures, if implemented, would disrupt Chile’s economy, global metal markets and the transition to clean energy.