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‘At the limit’: Chile’s world-leading copper industry rejects lawmaker bid to hike taxes

RIO DE JANEIRO, BRAZIL - Chile’s sprawling copper industry has hit its limit in terms of tax burden, a senior industry executive told Reuters on Wednesday, March 17th, warning lawmakers against a hike in royalties to take advantage of soaring global prices.

Left-leaning opposition lawmakers in Chile, the world’s top producer of the red metal, have called for levying higher taxes on the industry to help underwrite social programs and stimulus amid the coronavirus crisis. Those calls - including a direct tax on sales - have gained impetus in recent weeks as copper prices hit a decade-long high.

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