Diego Hernandez, president of The Chilean mining company Sonami, noted that the COVID-19 crisis has had little impact on the mining industry, as reported by Chile's El Kurier newspaper on 6 May 2020. The situation will be contained and the outcome will be less negative. The second quarter of the year will be the most complicated period, and the situation should improve in the third quarter. The fourth quarter is expected to show similar developments to the first quarter, with mining production up 4.6 percent .
In terms of the future performance of the mining industry, Mr Hernandez thinks it is difficult to forecast, but based on the information they have so far, he expects global copper demand to decline by up to 4 per cent, but to fully recover next year with growth of between 4 and 5 per cent. On the copper supply side, some plant closures in countries such as Peru and Congo could lead to a 3.3 per cent drop in supplies. 'There may be a small surplus, but it won't have a big impact on prices,' he said.
But on Tuesday, Chile's constituent Assembly began formal debate on a new constitution to replace the market-centric one that dates back to the dictatorship of General Augusto Pinochet. The text could reshape the world's largest copper producer.
Els plans inicials per a la nacionalització de la mineria, l'establiment d'un parlament unicameral, els drets de l'aigua i la protecció dels territoris indígenes són algunes de les mocions més puntuals que es debatran i es votaran en més de 20 sessions plenàries del parlament.
"During this time we will see what is really preserved in the proposed constitution," said Maria Eliza Quinteros, president of the constituent Assembly. She noted that the text would face a national referendum planned for September.
The new constitution comes as Gabriel Boric, a 36-year-old leftist former student protest leader, takes office as president in March in what could mark the Andean country's most dramatic political and social shift since the restoration of democracy in 1990.
The new constitution has caused unease among investors and mining companies, challenging the country's market-oriented economic model, which dates back to economists under Pinochet's bloody military rule.
Les propostes es debatran durant els propers mesos i requereixen l'aprovació de dos-terços dels delegats, o d'uns 103 vots. Si s'aprova, s'enfrontaran a un procés d'esmena abans d'una segona votació final per incorporar-los al text definitiu. Si són rebutjats, tornaran a la comissió per a la seva modificació o renúncia.
The prospect of dramatic change in the country has raised some alarm bells among conservatives, though Quinteros sought to allay concerns, saying there was a lot of "misinformation" in the process and that the proposal was in its early stages.
Però aquestes preocupacions han provocat una certa pèrdua de suport al procés, amb una enquesta de Cadem, un enquestador privat, que mostra que la proporció de persones que ara tenen la intenció de votar per aprovar la nova constitució ha caigut del 56% al 47%. .
The constitutional body, elected last year, is dominated by independent left-leaning representatives, some of whom grew out of a protest movement that erupted in 2019 over inequality in one of the region's richest countries.
Kenneth Bunker, director of Tresquntos, a consultancy, said it was an important moment to raise "concerns" to avoid "outlandish" motions moving forward and undermining trust in the process. But Bunker still thinks the new constitution will eventually be approved, despite the challenges it will pose to Boris's new government.
"In the short term, if this constitution is approved, the government of Gabriel Bolik will face a real challenge in balancing The social infrastructure of Chile with the current political and economic situation," he said.
