Marimaca Copper Corp T.MARI

Chile: Mining reform law passes lower house vote

[Hiezenberg]

Last week the senate passed the law. Just a few hours ago, the lower house also voted in favour. Now all that is left is for the president to sign:

https://www.reuters.com/world/americas/chilean-lawmakers-give-final-approval-mining-royalty-reform-2023-05-17/

[grossmrkup]

The new legislation added a lower tax tier for 50k to 80k tpy producers as well.  Approximately 45% as opposed to 39% prior.  Marimaca could just stay under 50k tpy and face no increase at all.   Will be interesting to see which development strategy is best financially. 

[Hiezenberg]

I look at this as very positive, mainly because this agreement indicates to me that the Chilean government is still very interested in foreign investment, and still want the foreign money, but they just want a little bit more, which is fine.

[grossmrkup]

Definitely positive.  Removes a great deal of uncertainty.