GHVNF - Chile Mining Minister Calls Proposed Mining Royalty Legislation Unconstitutional
Chile mining minister Juan Carlos Jobet stated on Monday that a proposal to increase royalties on lithium and copper miners currently being discussed by legislators was unconstitutional and noted that the administration of President Sebastian Piñera would be against it. The proposed bill, which had been introduced in 2018, would impose a 3% mining royalty on firms mining and exploring for lithium and copper in Chile. The country is known to have the biggest reserves of lithium and is also the top producer of copper globally.
During the annual CRU World Copper Conference and CESCO Week, Jobet stated that the Chilean government was making improvements to a broad-spectrum national mining policy measure that would be presented later this year, during the third quarter. The minister asserted that the policy would be a better fit for both the government’s priorities and the investors, in comparison...
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