Prince Mohammed bin Salman is prepared to pour billions of dollars into tapping the more than $1.3 trillion of metals his government says is buried in the country.
At least 176 environmental consultation processes are currently suspended, including for projects such as mining, waste treatment plants and dams, among others.
"Chile's new mining royalty law will not materially weaken the competitiveness of the country's copper mining sector, but it will increase taxes, modestly pressuring miners' cash flows," Fitch said.