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Reuters
Reuters
Business
By Fabian Cambero

Chile greenlights mining tax reform that boosts government take

FILE PHOTO: The Codelco El Teniente copper mine, the world's largest underground copper mine is shown near Rancagua, Chile August 13, 2020. Picture taken through a window. REUTERS/Fabian Cambero

Lawmakers in Chile's lower house of Congress gave final approval on Wednesday for a long-awaited mining tax reform that now requires only the signature of leftist President Gabriel Boric, who has publicly backed it, to become law.

The reform will require large copper and lithium producers that operate in the mineral-rich Latin American nation to pay more taxes and royalties to the government.

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