Chile finance commission rejects royalty bill

The finance commission of Chile’s lower house has rejected a bill looking to increase mining royalties, by seven votes to five. The bill, which aims to set a royalty of 3% ad valorem for copper and lithium, and which received a favourable reading by the mining commission in March 2020, will be returned to the Chamber of Deputies. Industry body, Sonami, believes no additions should be made to the government take given the actual system includes a mechanism for the government to receive higher rents during times of higher prices.

Source: Mining Journal