Argentine Chamber of Mining Companies rejects possible royalty hike

rejecting a possible 5% increase in mining royalties, a proposal presented by Senator Antonio Carambia from the southern Santa Cruz province.

So far, the Mining Investment Law stipulated that the provinces that adhere to it and that receive royalties or decide to receive them, would not be able to charge a percentage greater than 3% of the pithead value of the extracted mineral.and the opposite effect of that sought to be promoted by the Large Investment Incentive Regime,” the media statement reads. “Our country already imposes a higher tax burden than those nations with which we compete for investments.

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