Foreign miners in Chile warn lawmakers fresh royalties would hammer competitiveness
The El Abra mine in northern Chile. (Credit: Consejo Minero)
Foreign companies operating in world top copper miner Chile on Wednesday asked lawmakers to rewrite a controversial bill that would slap royalties on their sales, warning the fresh taxes could squander their competitiveness and future investment plans.
The royalty bill has gained momentum this year as prices of the red metal – critical for its use in construction and automaking industries – have soared amid a nascent global recovery following the coronavirus pandemic.
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