https://www.bnamericas.com/en/news/chiles-mining-royalty-debate-m...

https://www.bnamericas.com/en/news/chiles-mining-royalty-debate-moving-forward-in-senate

Chile’s senate is set to vote on July 14 on a royalty bill on copper and lithium over certain production levels.

Sources related to the mining and energy committee of the upper house told BNamericas they aim to hear industry representatives on June 23 and 30, as well as July 7.

Last week, the committee received hearing requests from major mining companies such as Australia’s BHP, Vancouver-based Teck Resources, Toronto-based Lundin Mining, Chile’s Antofagasta Minerals and US-based Freeport-McMoRan all of which operate in Chile.

It is expected that hearings will also include representatives of state-owned copper giant Codelco, national mining company Enami, mining association Sonami, the country’s mining council (which represents large mining companies), copper commission Cochilco, copper studies center Cesco and sector association Voces Mineras as well as union representatives and academics.

On June 25 and July 2-9, mining and energy committee members are due to participate in seminars on how the country’s tax system could benefit mining towns. The events are organized by the library of the congress and the senate’s science, technology and innovation committee.

In May, the lower house approved the bill that would add a 3% tax on sales for companies producing over 12,000t/y of copper and 50,000t/y of lithium. Legislators also gave the green light to a progressive tax on copper sales depending on the market price.

Industry players are hoping to reach agreements to benefit mining regions, Chile’s treasury and private sector miners, but according to lawyer Patricio Cartagena, who is the secretary of the country’s mining chamber, to reach a consensus stakeholders must define what is the profitability of mining companies.