October 2017: Chile’s economic development fundamentally depends on the mining industry and although concessions represent income for both the country and their holder, not all applications are based on the intention of exploring or exploiting their mineral wealth.
Exploration and exploitation concessions in Chile are granted by order of the civil court for a period of two years, and exploitation concessions are renewable for the same period, provided the new application only covers half the property.
The surface area of Chile is 75,610,240ha, and exploration concessions cover 15,285,300ha while exploitation concessions cover 15,435,492ha, totaling 30,720,792ha, however, only 23% is mined. The absence of mining programs has given concessions a speculative nature and has undermined investment opportunities.
Experts on this issue presented their points of view during the fourth Chile Explore Congress. Read more