Analysis Econometrics of the Factors that Strengthen the Position of the Small Mining Producer in Chile

Abstract

The purpose of this research is to identify possible factors that strengthen the position of the small mining producer in the access to new financing mechanisms for exploration activities, and, evaluate the efficiency of the risk capital that National Mining Company (ENAMI) provides to this sector.

For this purpose, a survey applied to small mining producers that have been benefited by ENAMI in the delivery of resources for the recognition of reservations. We analyzed possible factors that according to the literature affect the development of the sector and impact on their access to financial capital. The user satisfaction and the technical efficiency of the promotion program was analyzed. Is achieved determine that there are positive gaps (between attitude and expectations) that could be empowered to improve their current condition (knowledge and associativity). However, there are negative gaps (environment and risk), which can generate a further distancing between the sector and the financial market. The technical efficiency program analysis shows increasing returns for the different offices of promotion. The program is evaluated positively in terms of user satisfaction (from the evaluation of the project until its execution). It is corroborated that small mining, depending on the price of commodities, even though it presents problems of structural character that affect their development, cannot be solved only with improve financing conditions.