The economic impact of the regulations of compensation for damage in the expropriation of mining concessions in Chile between the years 1925 to 2010

Abstract

Legal certainly requires, among other matters, that in the event of expropriation of your assets, you be compensated for the patrimonial damage caused. In this article, we will review the legal norms that have regulated, at the constitutional and legal level, as of the Mining Code f 1932, the way to determinate the compensation for damages that must be paid to a mining exploitation concessionaire, product o fan expropriation. A special analysis of the law that Nationalized Large Copper Mining Companies in 1971 will be carried out, reviewing whether in the discussions of the law or in the doctrine, the eventual economic impacts -costs and benefits- of its application were taken into account. Finally, we will make and analysis of our current mining legislation, with regarding to art. 11° Nº3 of the Organic Constitutional Law of Mining Concessions, which had economic criteria for its consecration and where we will accredit its effectiveness and we will seek the maintenance of this numeral and the regulations on expropriation and compensation enshrined in the Political Constitution of the Republic of 1980.