Colombia always had the potential to become a major mining jurisdiction but the mining sector is now completely frozen. There is a high level of uncertainty due to the governments push to reform the mining code, create a state mining company, and new a environmental decree.
Each year, Chilean Copper Commision publishes a report that outlines exploration investment. We have provided an overview of their 2023 report which gives us insight into the health of the Chilean junior mining market. Chile maintains the top investment destination for exploration spending in Latin America in 2023 and is ranked 4th globally.
There is much to be optimistic about the Peruvian mining industry, but the country continues to face challenges that cannot be ignored. With a USD$53b dollar project pipeline that has mostly stalled, the government has made it a priority to improve permitting times and encourage investment. We have provided an overview of some of the most important topics from 2023 and our expectations for the next year.
As 2023 closes, it is a good time to reflect on what is happening in the Chilean mining market. This year has had a little bit of everything in terms of news – new lithium policies, changes to the royality, project announcments, etc. Check out our our overview and expectations for the next year.
The potential of the Peruvian mining industry is attracting many foreign companies to the market who are looking to provide equipment, technology, and services. It also means that companies need to adapt to new labor laws which are quite generous to workers in comparison to North America or Australia. One of the specific areas that companies need to consider when doing business in Peru is is how employee profit sharing works.
Mining suppliers may use a local subcontractor for a variety of reasons when working on Chilean projects. The issue is that foreign companies can find themselves in trouble if they do not understand how the subcontracting laws work from both a legal and practical perspective.
The Chilean mining sector is considered as a model to the rest of Latin America. Since the pandemic, the USD$60B plus project pipeline has not advanced as fast as many would have hoped. With the recent uncertainty mostly over, there have been more announcements on new projects or investments. Check out our round-up of the latest news to see the most important updates from the last couple of months.
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