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Chile's Lower House Approves Progressive Tax On Copper

CHILE
  • Chile lower house approves mining tax; bill to go to senate (BBG)
  • Chile's lower house approved a progressive rate on coppersales in what could become one of the heaviest tax burdens in global mining, potentially stalling investments and boosting prices.
  • Lawmakers, who had already approved a bill to introduce a flat 3% on sales of both copper and lithium, on Thursday voted to add a mechanism of marginal rates as copper prices rise, with the highest bracket set at 75%. (Bloomberg)

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