Maria Paz Pulgar’s Post

Finally was published the amendments to the mining legislation, which in general terms and came into effect immediately, as of January 1, 2024. The new legislation incorporates relevant changes, among which the following are worth highlighting: - The amount of mining patents increases significantly, even though in the case of exploitation concessions the rate of 1/10 UTM per hectare is maintained during 2024. - Increases the duration of exploration concessions to 4 years, and can be renewed for another 4 years, only once, without having to abandon part of the area. - The procedure to be able to denounce a new work is modified, requiring that the mining concessionaire have an easement or other real right and granting the judge the power, but not the obligation, to suspend the works provisionally during the processing of the trial. - The geological information obtained from advanced exploration works will be confidential for a four-years period from its delivery.  - The fine for failure to timely deliver geological information is significantly increased and can reach up to US$175K. - The coordinate transformation procedure from PSAD56 to SIRGAS is modified again, which will be defined in greater detail in a separate regulation. #mining #minería #Chile #legislación #legislation