Chile's Senate Proposal on Critical Minerals: Strategic Framework and Global Implications
Chile is currently debating a Senate proposal that seeks to establish a new framework for classifying critical minerals. This proposal is significant due to Chile's substantial role in global mineral supply chains, particularly in copper, lithium, molybdenum, and rhenium. The proposed framework introduces a three-condition legal test to classify minerals as critical, focusing on their strategic industrial importance, supply-chain vulnerability, and national economic interest. This approach aims to replace the existing fragmented regulatory system with a more coherent and durable governance model. The framework also categorizes minerals into three groups, each with distinct policy objectives, ranging from maximizing sovereign value to encouraging exploration and development. 
