Chile's newly inaugurated government will seek to revive some $50.000 billion in mining investments that remain on hold or delayed in the world's largest copper producer, the new mining minister, Baldo Prokurica, said Sunday.
In recent years, several firms have put major projects - mainly involving copper - on hold due to weak copper prices, while others have faced administrative and judicial hurdles to approval.
"Among the challenges of President Piñera's government program is to reactivate the large number of mining projects that are paralyzed for various reasons and that exceed US$50.000 billion," Prokurica said, quoted in a statement.
"We have to help them to be able to access the systems in compliance with the law," he added.
Among the measures, the official explained that work will be done to create an investment project management office, to streamline the procedures.
The mining industry is led by state-owned copper producer Codelco, with international giants such as BHP, Glencore, Anglo American and Antofagasta Minerals also participating.
After 28 years of intense work as a parliamentarian for#AtacamaI am leaving excited and grateful to my family and our neighbors for all the work done. Today I am undertaking a new challenge together with our President Sebastian Piñera to move mining activity forward. pic.twitter.com/dbrfu7qcG5
— BALDO PROKURICA (@bprokurica) March 11th 2018
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