Gradually raising environmental requirements in Chile the government plans to triple environmental fines

Published: Jul 12, 2019 13:22

Save

Chilean President Sebastian Pinera has made a series of changes to a bill introduced earlier this year that would impose harsher fines for serious violations of the country's environmental regulations. As part of the amendment, the government tripled the fine from the previous limit of $70, 000 to a maximum of $215000, and defined the scope of damage to the environment.

SMM7, 12 Feb: Chilean President Sebastian Pinera has made a series of changes to a bill introduced earlier this year that will impose harsher fines for serious violations of the country's environmental regulations.

As part of the amendment, the government tripled the fine from the previous limit of $70, 000 to a maximum of $215000, and defined the scope of damage to the environment.

Chile has traditionally imposed hefty fines on mining companies that violate environmental regulations.

In 2013, Barrick Gold Company (Barrick Gold) was fined $16 million, the highest fine to date.

In 2015, the Environmental Regulatory Agency (SMA) ordered Lumina Copper to pay a fine of $11.9 million, mainly for violations of mining license requirements, including contaminated groundwater supplies.

The gradual improvement of environmental protection requirements has also brought a certain impact on Chilean mining enterprises.

Chile's national copper company (Codelco) said that as environmental requirements gradually increased, the company's costs and capital needs also rose. And since March this year, the company has been facing a shortage of funds. "related news-the Codelco union has called on the government to provide permanent financial support to ease the company's financial constraints.

"Click to enter the registration page

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business

Copper capacity price forecast output

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

Tight supply continues to dominate the market, Yangshan copper premiums continue to rise [SMM Yangshan Copper Spot]

1 hour ago

China's Copper Inventory Drops 41,600 mt WoW to 123,400 mt by July 16, 2026

[SMM Copper Social Inventory Flash] As of July 16, 2026, SMM social inventory of copper cathode in mainstream regions across China decreased by 41,600 mt WoW from the previous Thursday (July 9), falling to 123,400 mt. By region, in Shanghai and Jiangsu, affected by persistently tight arrivals from imported and domestic sources, inventories saw significant destocking; in Guangdong, arrivals declined, end-use consumption showed mediocre performance, the supply-demand pattern was weak on both sides, and inventories edged down.

1 hour ago

After the contract rollover, downstream inquiries were sluggish, and holding prices firm pushed up North China spot copper premiums [SMM North China Spot Copper]

In North China, spot #1 copper cathode against the front-month contract was quoted at premiums of 100-140 yuan/mt, averaging 120 yuan/mt (up 260 yuan/mt from the previous trading day), and the average transaction price was 104,350 yuan/mt (down 675 yuan/mt from the previous trading day).

1 hour ago