OPINION: Muted celebration of mining deal

In January 2022, the government rejoiced when it announced an agreement with First Quantum, thanks to which it would receive a minimum contribution of $375 million a year. The president even explained how that money would be spent. We all know what happened: 11 months after that, the mining company reneged on everything previously agreed, presented a counterproposal, announced arbitration, tried to suspend the workers’ contracts, and complained about the closure of its port. But in parallel and somehow, the negotiations continued and now the parties, reconciled, seem to have reached an understanding. The real scope of what they have now agreed to is unknown, nor have we seen the “fine print” that accompanies these contracts. The Presidency, far from displaying the joy of yesteryear, is now more prudent in its communications: “the State expects to reach a minimum annual income of $375 million during the life of the contract.” In other words, that amount is not certain, since the Government acknowledges that it hopes “to reach” that amount. It is far from the joy of January 2022, when the mining company said that it “considers a minimum annual contribution of $375 million reasonable.” We will have to wait for the contract to reach the Assembly, to know what to expect. – LA PRENSA, Mar. 9.