{"id":7863,"date":"2023-05-16T17:33:12","date_gmt":"2023-05-16T20:33:12","guid":{"rendered":"https:\/\/www.lembeye.cl\/senado-aprueba-proyecto-sobre-royalty-minero\/"},"modified":"2024-06-24T17:00:23","modified_gmt":"2024-06-24T20:00:23","slug":"senate-approves-mining-royalty-bill","status":"publish","type":"post","link":"https:\/\/www.lembeye.cl\/en\/senate-approves-mining-royalty-bill\/","title":{"rendered":"SENATE APPROVES MINING ROYALTY BILL"},"content":{"rendered":"<p>Read the article\u00a0<a href=\"https:\/\/www.lembeye.cl\/eng\/wp-content\/uploads\/2023\/05\/Lembeye_Royalty_EN.pdf\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p>\n<p>The initiative contemplates a maximum potential tax burden of 46.5% for large mining companies with annual sales of more than 80,000 metric tons, and 45.5% for those operations with annual sales between 50,000 and 80,000 metric tons of fine copper. In both cases, this limit will be calculated on the adjusted mining operational taxable income. The bill also provides for a 1% ad valorem tax on producers of more than 50,000 metric tons of fine copper per year.<\/p>\n<p>The\u00a0royalty\u00a0bill aims to increase tax collection, decentralize the country, and redistribute mining revenues more equitably. Three funds are created in favor of regional governments and mining municipalities for a total of 450 million dollars.<\/p>\n<p>The bill will be discussed in the third constitutional procedure in the Chamber of Deputies.<\/p>\n<div>\n<p dir=\"ltr\">For more information contact:<\/p>\n<p dir=\"ltr\">Rony Zimerman \u2013 Partner<\/p>\n<p><a class=\"link--mail\" href=\"mailto:rzimerman@lembeye.cl\">rzimerman@lembeye.cl<\/a><\/p>\n<p><a href=\"tel:+56999187472\">+56 9 9918 7472\u202c<\/a><\/p>\n<p dir=\"ltr\">Catalina Galleguillos \u2013 Associate<\/p>\n<p><a class=\"link--mail\" href=\"mailto:cgalleguillos@lembeye.cl\">cgalleguillos@lembeye.cl<\/a><\/p>\n<p><a href=\"tel:+56971069375\">\u202d+56 9 7106 9375<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Read the article\u00a0here. The initiative contemplates a maximum potential tax burden of 46.5% for large mining companies with annual sales of more than 80,000 metric tons, and 45.5% for those operations with annual sales between 50,000 and 80,000 metric tons of fine copper. In both cases, this limit will be calculated on the adjusted mining [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[32],"tags":[],"class_list":["post-7863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-news"],"acf":[],"featured_image_src":{"landsacpe":["https:\/\/www.lembeye.cl\/wp-content\/uploads\/2024\/06\/Senado-aprueba-proyecto-sobre-royalty-minero-1140x445.png",1140,445,true],"list":["https:\/\/www.lembeye.cl\/wp-content\/uploads\/2024\/06\/Senado-aprueba-proyecto-sobre-royalty-minero-463x348.png",463,348,true],"medium":["https:\/\/www.lembeye.cl\/wp-content\/uploads\/2024\/06\/Senado-aprueba-proyecto-sobre-royalty-minero-300x179.png",300,179,true],"full":["https:\/\/www.lembeye.cl\/wp-content\/uploads\/2024\/06\/Senado-aprueba-proyecto-sobre-royalty-minero.png",1268,758,false]},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SENATE APPROVES MINING ROYALTY BILL - Lembeye<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lembeye.cl\/en\/senate-approves-mining-royalty-bill\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SENATE APPROVES MINING ROYALTY BILL - Lembeye\" \/>\n<meta property=\"og:description\" content=\"Read the article\u00a0here. The initiative contemplates a maximum potential tax burden of 46.5% for large mining companies with annual sales of more than 80,000 metric tons, and 45.5% for those operations with annual sales between 50,000 and 80,000 metric tons of fine copper. In both cases, this limit will be calculated on the adjusted mining [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lembeye.cl\/en\/senate-approves-mining-royalty-bill\/\" \/>\n<meta property=\"og:site_name\" content=\"Lembeye\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/lembeye.cl?mibextid=LQQJ4d\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-16T20:33:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-24T20:00:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.lembeye.cl\/wp-content\/uploads\/2024\/06\/Senado-aprueba-proyecto-sobre-royalty-minero.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1268\" \/>\n\t<meta property=\"og:image:height\" content=\"758\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@lembeye_cl\" \/>\n<meta name=\"twitter:site\" content=\"@lembeye_cl\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.lembeye.cl\/en\/senate-approves-mining-royalty-bill\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.lembeye.cl\/en\/senate-approves-mining-royalty-bill\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/www.lembeye.cl\/en\/#\/schema\/person\/e63ffcb0f43b7cd188543c52e9207b3f\"},\"headline\":\"SENATE APPROVES MINING ROYALTY BILL\",\"datePublished\":\"2023-05-16T20:33:12+00:00\",\"dateModified\":\"2024-06-24T20:00:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.lembeye.cl\/en\/senate-approves-mining-royalty-bill\/\"},\"wordCount\":146,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.lembeye.cl\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.lembeye.cl\/en\/senate-approves-mining-royalty-bill\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.lembeye.cl\/wp-content\/uploads\/2024\/06\/Senado-aprueba-proyecto-sobre-royalty-minero.png\",\"articleSection\":[\"Legal News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.lembeye.cl\/en\/senate-approves-mining-royalty-bill\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.lembeye.cl\/en\/senate-approves-mining-royalty-bill\/\",\"url\":\"https:\/\/www.lembeye.cl\/en\/senate-approves-mining-royalty-bill\/\",\"name\":\"SENATE APPROVES MINING ROYALTY BILL - 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