The world is more connected than ever, and mining technology and service companies are no exception. As they expand their reach globally, they need to follow their clients to new markets, from a copper mine high in the Andes to the icey cold winters of Northern Canada. When exploring new markets, it’s the classic “chicken or egg” dilemma: You want to see success before committing to the expenses of a local operation, but as soon as you start generating revenue, the risk of being classified as a PE increases.
For foreign companies operating in Chile, understanding how work absences are managed is critical since it can be quite different than other countries. Chile has specific regulations regarding sick leave, vacation time, parental leave, and other types of absences, which must be followed to prevent legal issues.
BHP is investing over $10 billion in Chile to strengthen its position in global copper production. The expansion of Escondida, Spence, and Cerro Colorado will boost demand for mining equipment, construction, and engineering, while automation, electrification, and digital technologies create new opportunities for tech suppliers.
For companies serious about servicing the Chilean market, incorporating a local entity is a crucial step. However, many foreign companies struggle with understanding the process, the required documentation, and the legal intricacies involved.
The integration of AI into Brazil’s industries offers transformative potential, but it also brings a unique set of challenges. From managing complex regulations to addressing ethical considerations, companies operating in Brazil must proactively adapt to ensure both compliance and competitive advantage.
Chile continues to be a dominant force in the global mining industry, with substantial investment directed toward copper projects, while gold developments have received comparatively less attention. The recent commencement of construction at Rio2 Limited’s Fenix Gold Project underscores the country’s ongoing efforts to diversify its mining sector.
When I first set foot in Latin America over a decade ago, I was mesmerized. The region’s vibrant culture, dynamic markets, and immense business potential captivated me. Yet, while companies were eager to enter the region, I was surprised by how many failed. They struggled to navigate an unfamiliar business environment, often stumbling over their own missteps while overlooking critical legal, commercial, and cultural differences.
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