Serrano said negotiations will include drafting new contracts, introducing royalties, and setting a base price for a windfall tax

He also said the reforms will establish new mechanisms to revoke concessions from companies charged w/land speculation

"Concessions that are involved in a speculation process or that broke the rules will be revoked," Serrano said.

The government is also drafting a new mining law to be introduced later this year, Serrano said, in which the government will analyze communities' participation in future projects.