Page 140 - Codelco News Today

An acid squeeze is the latest obstacle facing giant copper mines Sulfuric acid, in solid form. Credit: Wikimedia Commons Add sulfuric acid to the list of challenges facing copper miners as the world clamors for more of the wiring metal. The compound, used to extract copper from ore, is getting harder to come by. A slowdown in oil refining during the pandemic has resulted in less availability of sulfur, a key input for the acid. At the same time, more acid made in Asia is being used locally as ...

Operator Good day, and thank you for standing by. Welcome to the Hecla Mining Company Q1 2021 earnings conference call. [Operator instructions] I would now like to hand the conference over to your speaker today, Anvita Patil. You may begin. Anvita Patil -- Investor Relations Thank you, operator. And welcome, everyone, and thank you for joining us for Heclas first-quarter 2021 financial and operations results conference call. This is Anvita Patil, Heclas assistant treasurer. Our financial resul...

New tax could have explosive impact. Image: Blasting at Radomiro Tomic Codelco Chile’s lower house approved a progressive rate on copper sales in what could become one of the heaviest tax burdens in global mining, potentially stalling investments and boosting prices. Lawmakers, who had already approved a bill to introduce a flat 3% on sales of both copper and lithium, on Thursday voted 78 to 55 to add a mechanism of marginal rates as copper prices rise, with the highest bracket set at 75%. S...

AmericasChilean mining chief warns royalties bill in current form akin to expropriation Fabian Cambero 3 minute read Chiles National Mining Society (Sonami) has warned that a royalty project being discussed in Congress proposes levels of taxation that are "akin to expropriation" and would paralyze investment in the Andean nation. The plan, which proposes a progressive tax of at least 3% on copper and lithium sales, is driven by opposition-party legislators as a way to fund more expansive govern...

Copper prices surpassed the key psychological level of $10,000 a tonne on Wednesday on hopes for further global economic recovery, but trading volume was tepid due to China market holidays.

(Updates prices, adds copper smelting) LONDON, May 5 (Reuters) - Copper prices rose to a fresh 10-year high on Wednesday, topping $10,000 per tonne for only the second time this decade as the world’s largest economies showed signs of recovery, boosting demand hopes. Benchmark three-month copper on the London Metal Exchange (LME) was up 0.2% at $9,990.50 a tonne in official trading after touching $10,040 in early trade. That was copper’s highest level since Feb. 2011 when the contract hit a ...

By Syndicated Content By Fabian Cambero SANTIAGO (Reuters) – Chile’s National Mining Society (Sonami) has warned that a royalty project being discussed in Congress proposes levels of taxation that are “akin to expropriation” and would paralyze investment in the Andean nation. The plan, which proposes a progressive tax of at least 3% on copper and lithium sales, is driven by opposition-party legislators as a way to fund more expansive government social programmes ...

Proposed new royalty unsettles miners in Chile Image courtesy of Codelco. The return of high copper prices has come in the nick of time for Chile, but as the price for the red metal rallies, politicians believe the mining industry could be contributing significantly more to help the country through the covid-19 pandemic. Long-viewed as the most stable destination for foreign investment in South America, Chile’s increasingly fraught political scene is increasing risks for the country’s powe...

Copper bonanza challenge for top producer Chile As the global economy starts to shake off the impacts of the Covid-19 epidemic and makers of electric cars and renewable energy systems clamour for copper, Chile stands to gain handsomely. But political uncertainties in the South American nation have some worried. Share this News In this file photo taken on February 25, 2021 A view shows copper sheets at Kola Mining and Metallurgical Company (Kola MMC), a unit of Russias metals and mining company...

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