Urgent reforms needed in Chile's permitting process to stimulate investment, urges BHP

BHP, a prominent player in the global mining industry, has issued a call to action for Chile's government to swiftly enact reforms aimed at simplifying the country's permitting procedures.

During a panel at the World Copper Conference in Santiago, Brandon Craig, President Americas at BHP, emphasized the urgent need for Chile's government to expedite the approval of a proposal aimed at streamlining permitting for the mining industry. He stressed that improving the permit system is crucial for facilitating timely approval of large investment projects in Chile, not only for new endeavors but also to optimize current operations.

Craig's remarks underscored the widespread concerns within the mining sector regarding Chile's lengthy permitting process. The government presented legal reforms in January to address these concerns, aiming to streamline permitting for investments, which currently involves up to 500 requests from various authorities. However, these reforms await approval from Congress, where they face significant opposition.

Despite the government's success in passing a mining tax reform last year, which included calls from the industry to streamline permitting processes, progress on this front has been slow. Craig expressed hope that swift approval of these reforms would enable the industry to unlock substantial mining investments, critical for Chile, the world's leading copper exporter.