WESTPAC IQ posted an interesting comments on Chiel Tax regime yesterday.

From Westpac Markets Email yesterday Morning:

Metals exploded higher with copper up 2.37% at $9,751 making a fresh 10yr high; zinc up 2.63% at $2,915, close to a 2yr high; nickel up 1.74% at $16,680 and aluminium up 1.67% at $2,404, making a fresh 3yr high. Metals are benefitting as the largest economies announce massive fiscal stimulus programs and pledge to reduce carbon emissions. Port workers in Chile proceeded with protests Monday as unions asked the government for direct payments to Covid impacted workers. A congressional mining committee in Chile recommended an aggressive progressive tax on copper with the tax rate rising from 15% on copper between $2 and 2.50 rising to as much as 75% on prices above $4 per pound. According to Bloomberg, the effective rate would be 21.5%.

This is from Westpac IQ this morning: Incredible copper at 10 year highs and some nervous nellies or insider traders selling today,
makes no sense why you would be selling a 2.9m Copper JORC resource at these levels:

Copper surged towards $10,000 with a fresh decade high of $9,965 though it’s last off the highs at $9,878, up 1.3% on the day and 6% over the last week. Year to date copper is up 27% on expectations that infrastructure in the US and decarbonization will see huge demand for EV technology around the world. A port strike in Chile has added to the recent gains. Nickel also rose by 1.8% to $16,970 an 8-week high, bringing gains to 5.8% over the last 5 days.