Chile’s president says mining sector tax reform up for debate

By Fabian Cambero

SANTIAGO (Reuters) – Chilean President Gabriel Boric stated in a speech late Tuesday that any modifications within the nation’s tax regulation that will have an effect on the mining sector are nonetheless up for dialogue, with a vote scheduled in Congress in coming weeks.

Boric stated the business had been traditionally unwilling to succeed in agreements with the federal government, and he hoped to have a “technically sound debate” concerning a mining tax reform plan at the moment on the desk.

The pinnacle of nationwide mining society Sonami, Diego Hernandez, stated earlier Tuesday the sector had not been listened to whereas the nation’s tax reform was being drafted, and the federal government’s proposals had been “excessive and dogmatic”.

Hernandez stated a proposed royalty would put mining operations with increased prices in danger, and he hoped talks would result in reform that gave equal weight to tax assortment and “the long run viability of the sector.”

He additionally hoped a pending constitutional reform, separate from the tax proposal, would favor financial growth in Chile, the world’s prime copper producer and second-largest produce of lithium.

The constitutional debate and extra proposals affecting mining have generated uncertainty within the sector in latest months.

Hernandez stated he hoped the ultimate reform can be clear sufficient for miners to really feel assured pouring in an estimated $80 billion into the nation over the following few years.

(Reporting by Fabian Cambrero; Writing by Carolina Pulice; Enhancing by Richard Pullin)