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Gradually raising environmental requirements in Chile the government plans to triple environmental fines
Jul 12,2019 13:22CST
translation
Source:SMM
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.
The content below was translated by Tencent automatically for reference.

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.

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