Peru should impose royalty on metal sales, presidential frontrunner says

Presidential hopeful in Peru Pedro Castillo has proposed a 75% tax on copper sales if elected into office next month.

This could bring massive changes to the operational landscape of the copper mining sector in Peru, the world's second copper producer. The proposed royalties would be similar to a proposal lately approved by the lower congress of Chile, the biggest global copper producer.

Rates could rise to 75% when copper prices exceed $4 per lb under the Chilean proposal, which could put half of Chilean copper mines at risk of shutting down if finalized, according to the head...

Published

Ana de Liz

May 18, 2021

13:04 GMT

London