President-elect José Antonio Kast has reversed course on his mining policy, abandoning plans to appoint a former BHP Group executive as a standalone mining minister. Instead, he will fold the mining portfolio into the broader economy ministry, creating a dual-ministry structure that surprised the industry.

This last-minute shift signals potential uncertainty for Chile's critical copper sector, which accounts for nearly a third of global supply. A dedicated minister had been seen as a way to streamline regulatory approvals and boost investor confidence. Merging the roles could complicate policy coherence for major miners like BHP and Codelco.

Investors will now watch for Kast's final cabinet appointments and his economic team's first moves. The decision may affect ongoing investment decisions in Chile's mining projects, a key driver of the nation's GDP. Clarity on tax and permitting rules remains a top priority for the industry.