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Chile’s Proposed Constitutional Changes To Natural Resources Rights Could Have Devastating Effects On Foreign Investors: How Can International Law Protect Them? – Constitutional & Administrative Law



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Chile is currently considering a new Constitution-due to be put
to a referendum in September-and foreign investors should be aware
of its potential impact on their investments in the country. The
proposed changes in the draft Constitution could reduce
compensation awards for expropriated property, alter water rights,
and freeze mining concessions. The draft would also grant wide
discretion to the country’s courts by allowing judges to decide
on the amount of compensation owed for expropriated property. As to
changes in the regulation of natural resources-if the draft is
approved, the government would authorize only noncommercial water
use and could institute a freeze on the granting of new mining
concessions.

Given this uncertainty, foreign investors should prepare for
potential litigation, build political capital with local
communities, and consider available international treaty
protections to safeguard their assets.

Read the White Paper.

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.

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