PDAC 2024: Chile presents government project scopes to expedite investment execution

Chile captures nearly a quarter of mining exploration budget in Latin America.

At the prominent annual convention of the Prospectors & Developers Association of Canada (PDAC 2024), Chile reaffirmed its position as a leader in the international mining sector. Mining Minister Aurora Williams inaugurated the seminar "Chile, land of opportunities," highlighting the notable collaboration between the government and Cesco, demonstrating the country's commitment to optimizing mining investment and streamlining permit processes.

Chile, recognized as the top mining investment destination in Latin America and fourth worldwide, attends PDAC 2024 with a renewed focus on establishing robust institutions and administrative process efficiency. Minister Williams emphasized ongoing government initiatives aimed at strengthening the legal and regulatory framework. These include modifications to environmental legislation and the implementation of a smarter permit system, promising standardization, efficiency, proportionality, predictability, and institutionalism.

In this context, the Chilean government shows its dedication to balancing expedited procedures for projects of over 5,000 tons per month with a reduction of up to 45% in permit times, without compromising environmental standards or community relations. This strategic approach seeks to incentivize mining investment through precise regulatory adjustments, ensuring sustainable industry development.

Minister Williams underscored Chile's geological potential, highlighting its capture of 25% of mining exploration budget in Latin America, with 226 projects primarily focused on copper, followed by gold and lithium. The United Kingdom emerges as the largest investor in exploration in Chile, followed by Canada, reflecting the importance of international cooperation in the sector.

InvestChile, in collaboration with the National Mining Company (ENAMI), has prepared a portfolio of 36 projects, including 15 prospects in various exploration categories, opening new avenues for public-private partnerships in polymetallic mining. Maria Cristina Vallejos of ENAMI highlighted the geological value and potential of these concessions to foster collaborations and develop exploratory projects.