totellgeorge...this is the legislation they passed:
The revised law proposes to hike royalties for copper from 2 per cent to 3.5 per cent. It also includes a “super profits tax” of 50 per cent if prices rise by 25 per cent above those used in a mine’s feasibility study.
Then the royalty on cobalt was raised from 5% to 10%
I don't think the percentage hikes are that bad...but the 'mine feasibility study' could have implications if it was under reported. I don't think most of the miners fudge on those studies though because it could affect their ability to get financing, etc.
ORE Price at posting:
$5.63 Sentiment: None Disclosure: Not Held
