lpd share price, page-10269

Yes, thank you for clarifying @Logzy. It was getting late when I read that. And fair enough really- for the local government to benefit from its resources. Just found this in "Thomson Reuters Practical Law:"

Mining in Portugal: overview

11. What payments, such as taxes or royalties, are payable by interest holders to the government?
Royalties and other financial compensations are usually negotiated between the parties and set out in the relevant concession contracts (percentages usually vary between 2% to 5% at the mine head value of the ore).

So if the royalty was say 4%, 2% would go to the state and 2% to the municipality. This is reassuring, if we do end up proceeding with Alvarroes at some point. The document goes on to say that the normal corporate tax of 21% is applicable, plus an "Accrued annual municipal tax (which can be up to 1.5% of the company's taxable income)."