- Write by:
-
Wednesday, April 19, 2023 - 22:37:59
-
214 Visit
-
Print
Mining News Pro - BHP Group is looking for Chile’s government to make further concessions on a tax bill currently under debate in the senate before proceeding with an estimated $10 billion in investments in the country.
The government has already made changes to the so-called royalty bill, bringing down the average effective tax rate to an estimated 46%. Chile’s major competitors have a tax burden somewhere between 41% and 44%, BHP’s President Minerals Americas Ragnar Udd told reporters in Santiago.
The world’s biggest miner is urging the country to work with them to ensure fiscal stability, regulatory certainty and an end to “excessive” permitting times in order to unlock the copper needed for the global clean-energy transition. BHP “would desperately like to make investments in Chile,” with an expansion at the giant Escondida mine “an obligation,” he said.
Chile’s Mining Minister Marcela Hernando said earlier Tuesday that the government is confident it can smooth out differences with the mining industry before a vote on the royalty bill in congress this week.
Melbourne-based BHP is examining options with communities to tap “a fantastic sulfide deposit” at Cerro Colorado, but that will take years to get off the ground, Udd said. In the meantime, the mine will shut at the end of the year with the expiration of permits.
At its stalled Resolution project in the US, BHP is committed to working with partner Rio Tinto Group and communities to understand if there’s a pathway forward, Udd said.
Short Link:
https://www.miningnews.ir/En/News/622848
London-based Savannah Resources will if necessary ask Portugal’s government to authorize compulsory land acquisitions ...
Newmont Corp. has no plans to expedite a decision on its $2.5 billion Yanacocha Sulfides project, dashing the Peruvian ...
Imports of iron ore by China, the world’s biggest buyer, in 2024 are expected to be around 1.17 to 1.18 billion metric ...
First Quantum Minerals said on Monday it is looking forward to talks with Panama’s new government to find a resolution ...
BHP has put South Africa and its mining sector on the spot. The $140 billion Australian group’s ambitious swoop on rival ...
The chairman of Chile’s state-run copper giant Codelco said on Monday that he expects to reach a lithium deal with ...
China’s Tianqi Lithium said on Thursday it has formally requested that a proposed joint venture between lithium company ...
Zimbabwe’s President Emmerson Mnangagwa has re-appointed Winston Chitando as the southern African nation’s mines ...
A new report by IDTechEx states that investing in e-haul trucks could result in major savings for miners due to the ...
No comments have been posted yet ...