Copper producers are pushing back, with Anglo American Plc indicating it needs greater regulatory clarity before proceeding with major investments. miningnews
Copper producers are pushing back on Chile’s proposed tax overhaul, with Anglo American Plc indicating it needs greater regulatory clarity before proceeding with major investments.
Hours later, Lundin Mining Corp. executives told analysts that they see the bill as a “first proposal” that will require more discussion. The industry argues that the reforms as they stand would add uncertainty to investment decisions needed to help fill a global supply gap as demand rises in the clean-energy transition.
To be sure, neither firm is holding back spending just yet, with the possibility of higher taxes far from the only consideration. In May, Chilean environmental regulators rejected a major project at Anglo’s Los Bronces mines in the mountains above Santiago, while a proposed constitutional rewrite would afford greater protections for glacial and other sensitive areas.
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