Chile’s Proposed Mining Shakeup Falls Short in Convention Vote
- Radical measures have one more chance before deadline
- Voting may come as a relief to mining firms and metal markets
The Chuquicamata open pit copper mine stands in Calama, Chile.
Photographer: Cristobal Olivares/BloombergThis article is for subscribers only.
Proposals to severely restrict private property rights in Chile’s giant copper and lithium deposits will get one more roll of the dice after falling short in a Constitutional Convention vote.
While a package of measures passed the two-thirds threshold in the plenary on Saturday, several individual items lacked the required votes, including giving the state exclusive rights over lithium and majority ownership of copper mines, as well as replacing concessions with temporary permits.