Just so no confusion, a potential effective tax rate of 21.5% is by no means a dealer break.
If copper holds above $4.00 lots of money will be made by all stakeholders miners, shareholders, governments etc.
Chile has 4 out of the 10 biggest Producing copper mines on the planet so you can expect a lot of lobbying by the current producers in Chile to block it.
Do you think the below Global Miners will let a new tax be approved? The firepower of Anglo, BHP, RIOGlencore is limitless??
The same thing happened in WA and everyone knows how that panned out for them.
Chile’s top copper mines include:
Chuquicamata (Codelco-owned and the second deepest as well as one of the largest open-pit mines in the world)
Escondida (owned by BHP Group, Rio Tinto and Japan Escondida)
El Teniente (operated by Codelco and the world’s largest underground mine)
Collahuasi (Chile’s second-largest copper mine and owned by Anglo-American, Glencore, Mitsui and JX Holdings)
Los Bronces (owned by Anglo American, Mitsubishi Corp., Codelco, and Mitsui)
Los Pelambres (owned by Antofagasta Plc, Nippon Mining and Mitsubishi Materials)
Radomiro Tomic (operated by Codelco
HCH Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
(20min delay)