Chile's Bachelet studies mining policy changes

AP News
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Posted: Aug 13, 2013 12:48 PM

SANTIAGO, Chile (AP) — Chile's presidential frontrunner Michelle Bachelet says she is studying possible changes to mining policy in the world's top copper producing country.

The possible changes include altering mining royalties and funding programs for state-owned mining company Codelco. Bachelet told foreign correspondents Tuesday that she'll be able to release more details of her plan after a review is completed at the end of August.

Copper alone accounts for roughly a third of government revenue.

Bachelet said Chile's economy continues to grow due to the red metal but must improve its productivity. She also said Chile must strike a better balance between growth and the preservation of the environment.

Bachelet is widely expected to win the Nov. 17 election or a possible runoff on Dec. 15.