Mining industry reports 100 projects with environmental approval totaling over US$25 billion through Q1
The initiatives will generate over 83,000 jobs during the construction and operations stages according to the latest report issued by the Mining Ministry’s Project Management Department.
A total of 100 mining projects received environmental approval during the first quarter of this year according to a report issued in March by the Mining Ministry’s Project Management Department.
The initiatives involve investments totaling US$25.7 billion and will generate over 83,000 jobs, 57,282 during the construction phase and 23,619 during the operations phase.
Projects like this are more likely to materialize in the medium-term because once they secure environmental approval, companies can begin the sectorial processes required to begin construction. “This is a sign that, despite the difficulties posed by the pandemic, mining companies are looking to move forward with their projects. This reaffirms the key role that mining is playing in our economic reactivation not only because of its importance, but because of the productive linkage that it generates and the multiplier effect on employment,” stated Juan Carlos Jobet, who heads up both the Energy and Mining Ministries.
The region with the highest number of initiatives in this procedural stage is Atacama, with 38 projects approved representing a total investment of US$4.4 billion. One of them, the Cortadera Geological Prospection project proposed by Sociedad Minera La Frontera SpA for US$18.4 million, received environmental approval in March.
This region is followed by Antofagasta, with 34 initiatives involving a total of US$16.9 billion in investments. One of its projects was also approved in March: the updating of Codelco’s Radomiro Tomic Division, for US$882 million.
Coquimbo follows with nine projects totaling US$3.3 billion, Valparaíso with six projects worth US$361 million and Tarapacá, with four initiatives involving US$548 million in investments. The Metropolitan Region has two projects with environmental approval that involve an investment of US$102 million; the O’Higgins Region has one worth US$74 million; and Aysén and Magallanes have 4 and 1, respectively, worth US$10 million and US$5 million. There is also an interregional project that involves US$25 million in investments.
“Mining is undergoing major changes. It is incorporating clean energies, desalinized water and next-generation technologies into its processes. We expect the projects that are approved and that begin construction to follow this path, which ratifies Chile’s leadership position in the global mining industry,” Jobet added.
The report also states that 24 projects are currently in the construction stage. These are worth US$25.5 billion and contribute 30,696 jobs at the construction stage. Once complete, they will create 117,138 jobs.
This information is obtained directly from the project owners, the Environmental Impact Assessment System (SEIA), the Environmental Assessment Service (SEA), the Mining Ministry’s Sustainable Project Management Office (GPS), the Superintendency of the Environment (SMA) and the Chilean Copper Commission (Cochilco).