Juan Andres Abarca reports that “Chile’s environmental evaluation service SEA approved more than $7 billion worth of mining projects in the first half of the year, according to information compiled by BNamericas.” The two largest to receive the go ahead from the environmental authorities were Barrick Gold’s $5.2 billion Cerro Casale copper-gold project in northern region III, and the $962 million expansion of state copper producer Codelco’s Salvador division, also in region III. Other projects that were approved include Codelco’s $244 million Quetena for its Chuquicamata division, and the $34.7 million expansion of Haldeman Mining’s (HMC) Tambo de Oro mine in region IV.

The list of projects also includes oil well drilling and aggregate extraction, which, under existing regulations, fall under the mining category for evaluation purposes.

“Of the 59 mining projects that were approved by the authorities only seven had planned investments above $50 million, while 45 projects had planned investment of $10 million or less,” Abarca explains.

“On average, the projects were approved six months after being submitted for evaluation. Barrick’s Cerro Casales project was approved after 18 months, while Codelco’s Salvador division project was approved after 13 months, according to SEA figures.”