A U.S. executive for Freeport-McMoRan has reportedly called a delay in Chile to enact reforms that would fast-track mining permits to be a ‘serious’ issue.
Mario Larenas, Freeport’s top executive for Chile, said at a Santiago seminar that the country is grappling with regulatory hurdles that miners also argue slow project development. Currently, the government of Chile president Gabriel Boric is targeting reforms to streamline mining permits and modify environmental assessments.
“The issue of permits is a serious one,” said Larenas, noting the legislation is “perfectible” and “on the right track” but lamented the delay.
“Initially, when they were presented, the idea was to have them ready by the end of the year and that won’t happen.”
Freeport operates projects in the United States, Peru, Chile and Indonesia. It is investing $7.5 billion to expand its open-pit El Abra copper mine by next year, but is currently awaiting an environmental permit.
Source: Delay in Chile mining permits a serious problem, says local head of Freeport