Chile’s world-leading copper industry will see investment lag for at least two years as the country rewrites a constitution that underpinned nearly three decades of mining growth in the South American nation.
The referendum in Chile was held on Sunday with a resounding result in favor of reforming the constitution. After last year's social protests, it was decided to consult citizens if they wanted to begin the process of promulgating a new Chilean constitution, leaving the one approved during the time of Augusto Pinochet in 1980 without effect.
By Jennifer M Piscopo and Peter Siavelis (*) – One year ago, Chileans took their anger over inequality and injustice to the streets, insisting that redressing the nation's deep structural problems would require more than reform. They said Chile would need a new constitution with more rights and better social protection.
Chilean lawmakers agreed on Friday to hold a referendum next April on replacing the country’s unpopular Pinochet-era constitution, bowing to demands of protesters who say the country’s decades-old social model has created deep inequality.