Chile Senate advances talks over mining royalty bill
Chile's Senate on Tuesday pushed forward discussion over a
controversial bill to increase royalty payments from mining companies that
operate in the world's largest copper producer, a legislation being backed by
opposition lawmakers.
The Senate approved by 18 votes in favor, versus 16 against,
to continue making modifications to the bill, which was previously passed by
the lower Chamber of Deputies in May.
"I am voting in favor of the royalty bill and I have no
doubt that in the weeks that remain where we are going to set the deadline for
the presentation of amendments to improve this bill," said center-left
senator Yasna Provoste.
The mining industry has strongly opposed the idea of raising
the tax burden, arguing it is already at its limit, and has said the bill could
push some firms out of business.
Deputies of some parties on the opposition left have
proposed increasing the levy to boost tax collection, which they say is key to
funding more social initiatives as the Andean country rebounds from the
coronavirus pandemic.
The discussion come with the global price of the red metal
near decade-long highs.
Chile's copper sector is dominated by state mining giant
Codelco, along with multinational firms such as BHP, Anglo American, Glencore,
Antofagasta and Freeport.
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