Cesco, the Chilean Center for Copper and Mining Studies, is calling for a technical and political committee to be formed in order to discuss the recent law proposal to increase mining royalties in the country.
An optimal balance between state interests and return on private investments must be reached to develop Chile's mining industry further, Cesco said in a statement on Friday May 7. It added that both private and state-run miners need long-term stability to keep operating.Chile's lower house of Congress on May 6 approved a law proposal to tax mining sales at a 3% minimum, from 5-15% of operating margins currently. That royalty rate increases...