Game of Chicken Is Clouding Tax Debate in Top Copper Nation
- Chile government sees taxes reaching 82%; opposition says 56%
- Gap is explained by whether or not existing system is repealed
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As a controversial copper windfall tax goes before Chile’s senate, debate is being stymied by huge differences in estimates for the impact on producers.
Advisers to the bill’s left-leaning proponents say it will increase the total tax burden for companies like BHP Group to 56% at current prices. But the center-right government projects 82%, which would make Chile by far the most onerous major copper jurisdiction and jeopardize tens of billions of dollars in investments.