On November 11th, Statute 20.551 was published in the Chilean
Official Gazette, which regulates the closure of mining facilities.
The Statute aims to repeal the regulations that exist in the Code
of Mining Safety (Reglamento de Seguridad Minera).
A system was implemented which demands mining companies to have
an approved plan by Sernageomin (a governmental agency that ensures
mining and environmental safety), for the closure of mines prior to
the implementation of a mining operation. This plan has to be
planned and implemented progressively throughout the duration of
the mining operation.
Furthermore, the mining companies must issue guarantees to the
State in order to assure the fulfillment of the plan of closure. In
order for the company to be refunded of said guarantees, it is
necessary for the mining company to obtain a certificate issued by
Sernageomin stating that it has fully complied with the plan.
Nevertheless, part of the guarantees will be returned to its
