Clara Ferreira Marques, Columnist

Mining’s Uncertain Future: Elements by Clara Ferreira Marques

September 5, 2022 at 11:28 AM UTC

Clara Ferreira Marques is a managing editor for Commodities and Energy in Asia. Previously, she was a Bloomberg Opinion columnist and editorial board member.

Opponents of the new constitution celebrate the referendum result in Santiago — Opponents of the new constitution celebrate the referendum result in Santiago
Photographer: Cristobal Olivares/Bloomberg

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Hi. Welcome to today’s Elements, our daily energy and commodities newsletter. It’s a busy start to the week: natural gas prices jumped in Europe after Russia kept the Nord Stream pipeline shut and OPEC+ meets to set production policy. And as Bloomberg Opinion’s Clara Ferreira Marques explains in Today’s Take, Chile’s rejection of a new constitution has big implications for the global mining industry. If you haven’t yet signed up to receive the newsletter into your inbox you can do that here.

Chile’s rejection of a proposed new constitution is being welcomed among investors as the least bad outcome, with the peso set to strengthen and equities ready to climb. An idealistic, maximalist document born of 2019’s social upheaval, the charter would have come with dangerously vague environmental and other burdens in particular for miners — plus onerous spending demands for a government that can ill-afford them.