- Write by:
-
Wednesday, May 19, 2021 - 14:16:57
-
635 Visit
-
Print
Mining News Pro - Canada’s Teck Resources sees little risk of higher taxes in copper powerhouse Chile due to a stability agreement that shields the company's massive Quebrada Blanca Phase 2 copper project from higher levies for 15 years, CEO Don Lindsay said on Tuesday.
Chile's lower house this month approved a bill that would sharply hike taxes on copper mining to pay for social programs.
“We trust the Chilean institutions," Lindsay said at the Bank of America Securities Global Metals, Mining & Steel conference on Tuesday,
"The stability agreements were offered on a transparent and uniform basis under Chilean law and therefore they’re theoretically not negotiable,” he added.
Separately, Vancouver-based Teck has yet to decide whether to restart a sales process for its 80% stake in the Zafranal copper mine in Peru and could look for a partner to build it, Lindsay said.
A similar approach could work at its San Nicolas project in Mexico, he said.
Teck and other miners have benefited from a surge in copper prices on the back of rising demand in China, which has made such assets more valuable, Lindsay said.
“These projects are now more valuable today than they were before Covid,” he said.
Short Link:
https://www.miningnews.ir/En/News/613543
Zimbabwe’s President Emmerson Mnangagwa has re-appointed Winston Chitando as the southern African nation’s mines ...
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with ...
A new report by IDTechEx states that investing in e-haul trucks could result in major savings for miners due to the ...
Canadian miner First Quantum Minerals (TSX: FM) believes it will be able to take the already mined 121,000 tonnes of ...
Canadian miner First Quantum Minerals said on Tuesday that it has cut its debt by $1.14 billion in the first quarter.
Chile is expected to produce a record 5.8 million metric tons of copper in 2025, the state-run Chilean Copper Commission ...
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
No comments have been posted yet ...