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Chile Copper Mines Dodge Radical Changes as Convention Vote Ends

  • Switch to temporary permits fell short of two-thirds threshold
  • Draft constitution will lack a clear mandate for mining rights
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Copper producers from BHP Group to Freeport-McMoRan Inc. will avoid a major shakeup of mining rights in Chile -- at least for now -- after writers of a new constitution wrapped up deliberations. 

In a final vote on the Constitutional Convention floor on Saturday, a plan to replace the nation’s investor-friendly concession model with a system of temporary and revocable permits fell short of the two-thirds threshold needed to be included in a document that will be put to a referendum on Sept. 4.