Proposes to strengthen different administrative authorities with environmental assessment powers and improve their efficiency by amending Law No. 19.300 and other laws. The initiative places particular emphasis on the modernization of the Environmental Impact Assessment System (SEIA).
Bill 63 provides for a reform of the Mining Act and related regulations by providing for further environmental protection, increasing ministerial powers to ensure regulation of mining activities, safeguarding of the interests of Indigenous communities, and prohibiting excavation on certain lands.
The A$7-billion commitment over ten years, covering 31 minerals on the critical minerals list, will support companies in adding value to raw materials by investing in downstream processing. In return, companies will receive a 10% tax credit.