Mining giants warn Chile mining royalty would impact investment

Mining giants BHP and Antofagasta Minerals said on Wednesday that a mining royalty bill in Chile would affect competitiveness and encourage miners to reevaluate investments.

“It is our duty to warn that in a highly competitive global world, Chile cannot disproportionately increase its taxes without significantly affecting investment levels,” Muga said. For his part, the vice president of corporate affairs of Antofagasta Minerals, Rene Aguilar, pointed out that with the proposed changes, total taxation would exceed 48%, putting it on par with high-tax countries such as Congo, Mongolia and Zambia.

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