Chile is still “attractive” to invest in mining despite social crisis

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SANTIAGO (Sputnik) – Chile is still an attractive country to invest in mining despite what the social crisis that has been going on since October 2019 has meant, the Minister of Mining, Baldo Prokurica, told a news conference.

“The social crisis impacted the economy, but Chile remains an attractive country to invest in mining,” said the minister.

Prokurica said that while several sectors of the economy, including mining, have affected their performance as a result of constant citizen demonstrations, “mining investments are a long-term issue.”
“For a company to invest in mining, the subject must be analyzed for 10 to 15 years, therefore, this situation that the country is experiencing, no matter how important it is, does not tarnish a whole history of a country with clear rules over time.” , he claimed.
He added that the work of the administration of President Sebastián Piñera is “to recover normalcy in Chile, because in this way the investment can be recovered and resources generated to finance the commitments of this Government.”

“Mining is a fundamental axis to solve the problems that are being claimed today and that have to be financed,” he closed.

The economy of Chile registered a low performance in the months of social crisis, even in October and November 2019, the Economic Activity Indicator contracted above 3%, something that has not happened since 2009.

The most affected sectors have been commerce, tourism, hospitality, education, transportation, construction and manufacturing.

The social crisis in Chile has been going on since October 2019, when they began a series of citizen demonstrations protesting against inequality, the deep neo-liberal economic system, the price of basic services, the Constitution and to reject the management of President Piñera.

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