ESG

Chile president Pinera loses Dominga impeachment vote

Chile’s lower house voted to impeach president Sebastian Pinera over claims he favoured the sale of a family property while in office. The vote mustered the minimum 78 votes needed to pass following a 20-hour session.

Chile's president Sebastian Pinera

Chile's president Sebastian Pinera

The allegations against Pinera stem from the Pandora Papers investigation, which showed a mining company owned in part by Piñera's children was sold for US$152 million to a close friend of the president, in December 2010, during his first term as president.

Private company Andes Iron, which owns the Dominga project at the centre of the allegations, is looking to develop a $2.5 billion copper and iron mining and port project near the Humboldt Penguin National Reserve in central Chile that is a breeding ground for penguins and a home to sea lions, bottlenose dolphins and marine otters.

The last payment in the deal was contingent on the government's declining to impose environmental protections on the mining area, which opposition politicians labelled a "serious" conflict of interest, according to the Washington Post.

In August, it received approval from the Coquimbo regional environmental authority (COEVA) mine and port development, bringing to a close a permitting process which was drawn-out for years and required court intervention.

The open pit project has an anticipated lifespan of 27 years and would produce 12 million tonnes of iron concentrate and 150,000t of copper concentrate per year.

The opposition lacks a majority in the 43-seat upper chamber which means Pinera is unlikely to be removed from office or face jail time. His term ends in March 2022.

Pinera said the transactions were investigated and resolved by the public prosecutor's office and the courts in 2017. However, Chile's prosecutor's office said the previous investigation did not include the details of the contract that emerged in the Pandora Papers.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.