Chilean mining royalties reform: What would this mean for the Chilean copper industry?

A motion to reform Chile’s royalty regime for copper and lithium mining has been on the table since September 2018 in the form of Bill 12093-08. This originally proposed a production-based 3% royalty on the total value (ad valorem) of production for companies producing in excess of 12 ktpa copper. The debate took a turn to the left with amendments tabled and passed by Chile’s Chamber of Deputies (Congress’ lower house) in May 2021.