Background

On July 26, 2022, Law No. 21,462 was enacted. This law amends Law No. 21,420, which in turn had made a series of amendments of the Mining Code.

Amendments

Article 142 bis paragraph four of the Mining Code, which regulates the reduced mining license, was amended as follows:

• The license of an exploitation concession that proves mining works decreases from 3/10 UTM to 1/10 UTM.
• Certain internal reference errors in this paragraph are corrected.

As a result, the license of an exploitation concession that proves mining works is set at 1/10 UTM per hectare. It must be noted that the license of an exploitation concession that is under environmental assessment or has an approved Environmental Assessment Resolution remains at 3/10 UTM per hectare.

Effective date

The same as Law 21,420.

To see more details of the amendments introduced to the Mining Code by Law 21.420, please see here.