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Copper Royalty Bill Passed in Initial Vote in Chile’s Senate

  • Proposal returns to committee where modifications are likely
  • Industry warns bill in current form would impede investments

A bill that would create the heaviest tax burden among major copper-producing nations was approved in an initial vote in Chile’s senate on Tuesday.

Senators voted 18 to 16 in favor of the main text of the proposal. It now goes back to committee, where members are likely to seek modifications to temper its impact. Amendments would then go back to another floor vote.