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Chile to lease inactive licenses held by top miners to juniors

Despite an increased appetite in copper assets, the rate of new discoveries continues to be low, especially in Chile, the biggest producing country in the world and where the bulk of exploration is in the hands of major miners.

But that is about to change, as the country’s Mining Ministry is set to sign the first of many contracts next month that force major companies to lease to juniors all or part of the assets they are not actively developing.

Authorities in four major mining regions will submit at the end of the week a list of mining properties where development is currently stalled, as well as a list of companies that would be willing to participate in this lease-type property transfer, Minería Chilena reports.

Even with the difficulties juniors face in Chile, the country attracted 7.6% of the $600 million companies spent on exploration in 2017.

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