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Copper Royalty Proposal Would Freeze Investments: Sonami Head

CHILE
  • A proposed new copper royalty system in Chile contains tax levels that are "almost expropriatory," according to Diego Hernandez, who heads the nation's mining society, Sonami.
    • As it stands, the bill would freeze investments and hurt the economy, he said in comments sent in an emailed statement, calling for further discussion on the implications
  • Following a board meeting with President Pinera, the central bank described Chile's economic recovery remains uneven, according to a statement on the central bank's website:
    • Says recovery remains on track despite restrictions on mobility adopted to slow the spread of coronavirus.
    • Emphasized need to reduce uncertainty.
    • Underscored importance of economic and financial sustainability in medium-term.
    • There have been delays in recovery of employment. (BBG)

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