“This applies not only to new projects, but also to the permits required to optimize current operations,” he added. BHP is a top copper producer and its flagship Escondida mine in Chile is the world’s largest copper mine.
Rio Tinto, which owns a 30% stake in Escondida and partners with state-run Codelco in copper exploration, agreed further streamlining was needed to encourage investment.
“We want to invest more in Chile, but we need help,” said Bordo Baatar, head of Rio Tinto’s copper business. “If we could streamline the permitting process[in Chile]more…I think that would help.”
Mining companies and industry groups are frustrated by Chile’s extensive permitting process. In January, the government presented legal reforms to streamline investment permits, but currently the number of applications from various authorities could reach up to 500.
The reforms still require parliamentary approval, but the government faces strong opposition. The government was able to pass mining tax reform last year, but the industry’s main demands under discussion are to streamline permitting and ramp up times for multi-million dollar copper projects, Chile’s biggest export. It was to be shortened.
“We hope these reforms are approved quickly to enable the industry to make large-scale mining investments,” Craig said.
(Writing by Fabian Cambero and Alexander Villegas; Editing by Andrea Ricci and Richard Chan)
read more: Codelco eyes partnership to boost sluggish copper production
