"I focused on Australian copper projects because I like my...

"I focused on Australian copper projects because I like my sovereign risk to be Nil%"


Chile’s 75% tax on copper closer to reality

Chile’s lower house of Congress approved on Thursday an opposition-led bill that would slap a progressive royalty on sales of copper as prices rise, sharply hiking taxes on the sprawling industry to pay for social programs during the COVID-19 pandemic.







The bill proposes a base rate royalty of 3% on copper and lithium sales, as well as other metals.

But in the case of copper, as prices soar, so too would the tax, with marginal rates beginning at 15% of sales for prices between US$2.00-US$2.50 per pound and cresting at 75% of additional income at prices of over US$4.00/lb. Lawmakers have yet to define a sliding scale on other metals.

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