Hey all,I haven't seen any comments regarding the change of...

Hey all,
I haven't seen any comments regarding the change of Government in Chile. The Socialists are trying to Nationalize the mines, and i think this is having an impact on the Share price.

Some big copper companies have halted any further investments until they get a clear direction.

FROM BLOOMBERG NEWS article

Tuesday’s 13-to-6 vote by members of an environmental committee is the first of several hurdles that the controversial proposal would need to clear before becoming a reality. It would require support from two thirds of the full assembly to become part of the draft charter that will be put to a referendum later this year.

The risk of that scenario playing out appears low in a nation known for its clear, stable and investor-friendly rules. But if it is implemented, the measure would disrupt Chile’s economy, metal markets and the global transition to clean energy. Shares in some companies with mines in Chile, including Albemarle Corp. and Anglo American Plc, pared gains after the vote, while the peso dropped.

Chile has the biggest reserves of copper and lithium, both of which are crucial as the world tries to wean itself off fossil fuels. There are a total of almost $70 billion in possible mining projects this decade, much of which would be upended by nationalization

The hundreds of billions of dollars needed to compensate private mining companies would imperil efforts to step up social spending and reduce inequalities, goals that sparked the constitutional process in the first place. If full compensation wasn’t delivered, Chile would find itself in international tribunals.

“The constitutional process is the biggest change for Chilean mining in the last 40 years,” Juan Carlos Guajardo, who heads consulting firm Plusmining, wrote in a text message. “I’m afraid it involves serious risks because there’s a lot of reformist spirit and little willingness to listen to the technical arguments of the mining business.”