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Pan American Silver Sees ’Minor’ Change From Peru Mine Tax

Pan American Silver Corp., the world’s second largest primary silver producer, said it expects to pay an additional 5 percent in tax in Peru after the country’s Congress approved a new mining law last week.

“It looks as if the impact to us, relative to our profitability, is fairly minor,” Steven Busby, Pan American’s chief operating officer, said today in a telephone interview from Vancouver. “We are not seeing the big increase you are seeing at the higher profits.”