- Write by:
-
Sunday, September 16, 2018 - 4:10:21 PM
-
992 Visit
-
Print
Mining News Pro - Chile`s congress is studying a proposal for an additional royalty payment for copper and lithium miners operating in the country to bolster the development of the regions around their deposits, according to a draft seen by Reuters.
According to Mining News Pro -The initiative, which was put forward by opposition legislators from mining areas and does not have government backing, proposes a 3% tax on the nominal value of extracted metals and would apply to copper miners producing more than 12 000 t/y of copper and 50 000 t of lithium.
The payments must be made annually by the respective miners, for the life of existing mines and in the case of those not yet operational, from the start of extraction to its completion," the draft said.
It was sent on Thursday evening to the mines and energy committee of the country`s house of representatives, but support for it remains in question since it was put forward by lawmakers from a number of small parties pushing for Chile`s decentralization. It is not thought to have the backing of the government or larger opposition parties.
In 2010, Chile`s government raised mining royalties from between 4% and 5% to 4% to 9% of mining sales on a sliding scale, rising to 5% to 14% starting in 2018. The law change was aimed at raising revenues to help the country rebuild after a devastating earthquake in February 2010.
Chile is the world`s biggest copper producer and an important producer of lithium, demand for which is growing.
Mining companies operating in Chile include BHP Billiton, Glencore, Anglo American, Antofagasta, SQM and Albemarle.
Short Link:
https://www.miningnews.ir/En/News/263763
![Silver, platinum and palladium join massive selloff](/Incsys/Photo.aspx?image=/Uploads/News/20200317104656612.jpg&width=236&height=180)
Mining News Pro - Precious metals that are heavily used in industrial production joined the massive selloff across ...
![BHP outperforming peers in terms of liquidity](/Incsys/Photo.aspx?image=/Uploads/News/20190820112145214.jpg&width=236&height=180)
Mining News Pro - Market research firm Fitch Solutions recently published a company outlook for BHP Billiton, weighing ...
![One of the World’s Biggest Mining Companies: BHP](/Incsys/Photo.aspx?image=/Uploads/News/20190515115528048.jpg&width=236&height=180)
Mining News Pro - BHP, formerly BHP Billiton Limited, incorporated on August 13, 1885, is a global resources company. ...
![NT lithium project gets Core contractor team](/Incsys/Photo.aspx?image=/Uploads/News/20190125164528045.jpg&width=236&height=180)
Mining News Pro - ion at the Finniss lithium project on track for the end of 2019,” Biggins said.
![BHP ends longstanding dispute with Australian Tax Office](/Incsys/Photo.aspx?image=/Uploads/News/20181120142916829.jpg&width=236&height=180)
Mining News Pro - BHP has settled a dispute with the Australian Taxation Office (ATO) regarding taxes that were ...
![BHP to pay $390m to settle tax bill dispute over Singapore business](/Incsys/Photo.aspx?image=/Uploads/News/20181120130214474.jpg&width=236&height=180)
Mining News Pro - The "transfer pricing" dispute relates to the amount of tax BHP owed for selling its Australian ...
![Primero gets BHP South Flank mine fuel facilities EPC contract](/Incsys/Photo.aspx?image=/Uploads/News/20181116123110467.jpg&width=236&height=180)
Mining News Pro - Primero Group has secured its first major contract on BHP Billiton Ltd’s South Flank iron ore project ...
![Resolution Copper destroys historic smelter in Arizona](/Incsys/Photo.aspx?image=/Uploads/News/20181112212600985.jpg&width=236&height=180)
Mining News Pro - Resolution Copper, a joint venture between giants Rio Tinto and BHP Billiton, demolished a 94-year-old ...
![Canadian miners join forces in Brazilian copper project](/Incsys/Photo.aspx?image=/Uploads/News/20181105211516501.png&width=236&height=180)
Mining News Pro - Lara Exploration (TSXV: LRA) and Capstone Mining Corp (TSE: CS) signed a Letter of Intent granting the ...
No comments have been posted yet ...