Cesco calls for joint committee to examine new Chilean mining royalty

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.
"[That] stability is achieved through an adequate distribution of the fruits of mining activity, and it has to be perceived as such by the majority of society," Cesco stated.

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...

Monetary-driven precious metals outperform major base metals

Gold stocks hit by plunging equities markets

Gold stocks down as metal and equities momentum fades

Another Kazatomprom guidance announcement shakes uranium price

Major monetary drivers still supporting gold