- Write by:
-
Wednesday, December 1, 2021 - 13:14:39
-
283 Visit
-
Print
Mining News Pro - Chile’s Senate on Tuesday pushed forward discussion over a controversial bill to increase royalty payments from mining companies that operate in the world’s largest copper producer, a legislation being backed by opposition lawmakers.
The Senate approved by 18 votes in favor, versus 16 against, to continue making modifications to the bill, which was previously passed by the lower Chamber of Deputies in May.
“I am voting in favor of the royalty bill and I have no doubt that in the weeks that remain where we are going to set the deadline for the presentation of amendments to improve this bill,” said center-left senator Yasna Provoste.
The mining industry has strongly opposed the idea of raising the tax burden, arguing it is already at its limit, and has said the bill could push some firms out of business.
Deputies of some parties on the opposition left have proposed increasing the levy to boost tax collection, which they say is key to funding more social initiatives as the Andean country rebounds from the coronavirus pandemic.
The discussion come with the global price of the red metal near decade-long highs.
Chile’s copper sector is dominated by state mining giant Codelco, along with multinational firms such as BHP, Anglo American, Glencore, Antofagasta and Freeport.
Short Link:
https://www.miningnews.ir/En/News/617181
Commodities usually rally when central banks cut interest rates, bolstering the case for going long raw materials in the ...
Cocoa extended its surge — gaining more than $700 per ton in a single day and surpassing $9,000 for the first time ever ...
Ivanhoe Electric (NYSE American: IE) (TSX: IE) terest in the Samapleu-Grata nickel-copper project in Côte d’Ivoire after ...
Iron ore futures tumbled in Singapore, extending a stretch of volatile trading amid deepening anxiety over Chinese ...
The Democratic Republic of the Congo overtook Peru as the world’s second largest copper producer in 2023, though it ...
The United States is looking to Africa to help loosen a Chinese stranglehold on battery metals and reduce Russia’s ...
Democratic Republic of Congo and Chinese investors on Thursday signed an agreement reached in January that revises some ...
South African coal miner Exxaro Resources is considering potential deals to acquire copper and manganese assets as part ...
Copper prices soared on Wednesday to their highest in seven months after Chinese smelters, which process half of the ...
No comments have been posted yet ...