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Proposed Taxes on Chile Copper Miners Too Harsh, Industry Says

Aug. 10, 2022, 4:40 PM

Mining companies in Chile are urging the government to soften a proposal that they say will raise tax rates and production costs, making them less competitive in world markets.

The Chilean administration, elected late last year, is pursuing an ambitious increase in health, education, and social spending, with the mining sector set to pick up part of the cost.

The mining royalty proposal, which is pending action in Congress, includes two components: an ‘ad valorem’ sales tax ranging from 1% to 7% depending on copper prices and production volume, plus a marginal rate of 2% to 36% depending on ...