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LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

February 15, 2022

Will Chile Move to Nationalize Lithium and Copper Mines?

The committee that is to draft a new Chilean Constitution is considering mine nationalizations. Formal sessions of the constitutional convention began Tuesday in the Chamber of Deputies of the former National Congress building. // File Photo: Chilean Government.

Q

A

Sergio Bitar, nonresident senior fellow at the Inter-American Dialogue and former Chilean minister of mining, education and public works: “Neither the proposal for the nationalization of natural resources nor that of a radical change in political institutions will be part of the draft of the new Chilean Constitution. One cause for the uproar is the working method of the constitutional convention. It allows for the announcement of radical proposals, which are amplified in the media, even though they have no chance of reaching the required two-thirds majority. The plenary vote has now begun, and doubts will be cleared up. Will big agreements be possible? Will there be a sufficient number of convention members—103 out of 154—capable of converging instead of fragmenting and complying with what the people have ordered? That is the great dilemma of Chile today. As for the proposal to nationalize mining, it has no political or economic viability. A nationalization would imply enormous amounts to pay that nobody has calculated…”

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