https://www.miningweekly.com

Chile's president says mining sector tax reform up for debate

31st August 2022

By: Reuters

  

Font size: - +

SANTIAGO - Chilean President Gabriel Boric said in a speech late Tuesday that any changes in the country's tax law that would affect the mining sector are still up for discussion, with a vote scheduled in Congress in coming weeks.

Boric said the industry had been historically unwilling to reach agreements with the government, and he hoped to have a "technically sound debate" regarding a mining tax reform plan currently on the table.

The head of national mining society Sonami, Diego Hernandez, said earlier Tuesday the sector had not been listened to while the country's tax reform was being drafted, and the government's proposals were "extreme and dogmatic".

Hernandez said a proposed royalty would put mining operations with higher costs at risk, and he hoped talks would lead to reform that gave equal weight to tax collection and "the future viability of the sector."

He also hoped a pending constitutional reform, separate from the tax proposal, would favor economic development in Chile, the world's top copper producer and second-largest produce of lithium.

The constitutional debate and additional proposals affecting mining have generated uncertainty in the sector in recent months.

Hernandez said he hoped the final reform would be clear enough for miners to feel confident pouring in an estimated $80 billion into the country over the next few years.

Edited by Reuters

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION