Peru targets copper price windfall

LIMA: Peru, the world’s number two copper producer, will target “excess profits” that mining firms have gained from soaring global metals prices for extra taxation, the country’s economy minister says.

While President Pedro Castillo came to power last July pledging to increase taxes on the powerful mining sector, the current plan is far less ambitious than initial promises of sharp tax hikes that met fierce resistance from the industry and a divided Congress.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Peru , copper , metal , mining , tax


Next In Business News

New MABA building with a GDV of RM800mil
High expectations
Results on track
The global port race: Will Malaysia keep up?
Divergent views on economic prospects
Uplifting local agriculture
Addressing the ripple effect of higher wages
Identifying opportunities for 2024
India economy to exceed growth estimates
OCBC sues money laundering suspect for US$15mil

Others Also Read