The unprecedented management, compensation and repair agreement was reached by BHP, the State Defense Council and the Atacameño Peoples Council, as well as the Peine Indigenous Community, which puts an end to the dispute between the parties, after the mining company was sued for damages in that area.

The agreement will also result in the creation of a socio-environmental governance of the Salar de Punta Negra sub-basin working group as well as the preparation and validation of a management plan which the mining company must carry out to contribute to the natural recovery of the aquifer.

"This is great news for everyone, but the work continues. Now comes the implementation of an environmental plan to support the sustainability of the Salar de Punta Negra in which we will work jointly and in coordination with the Peine community, the Atacameño Peoples Council and the environmental authorities,", said Escondida BHP VP corporate affairs Christopher Marshall.

The community accused the company of causing environmental damage in the salar including a severe decrease in the levels of the aquifer, which compromised its regeneration, the total or partial loss of wetlands; the loss of the salar ecosystem and loss or modification of habitat which affects fauna and biodiversity.

Escondida is the largest copper mine in Chile.