RE:New Chilean constitutionThere shouldn't be any cause for concern for copper miners. Ever since the nationalisation of Codelco, the way copper mining is made in Chile is a realization of a socialist dream. It is a cash cow: Even Amerigo paid 29 Million US dollars in royalties to Codelco last year, and Codelco is state owned and returns its profits to the state.
What is really at stake is for lithium miners: the chilean government would very much like to benefit from the incredible lithium price surge (500+% Y/Y), and have another cash cow, similar to copper.
However mining lithium is no walk in the park, it requires a lot of knowhow (as does recovering copper from tailings) . The ability to attract lithium miners, that have this knowhow, in a context where the miners know the clhilean government will want to keep a hand in the jar, that is very much in question.
For Amerigo, the contract is there for us for much longer than the next government will stay in office. I see a real possibility of expansion through additional tailing reclaiming contracts, because there is a real political appetite for the green narrative, especially in a socialist-woke government.
GLTA