Chile Planned to Promote Tax Reform by the End of June and Will the Global Copper and Lithium Supply See Significant Change?

Published: Jun 17, 2022 11:03 (GMT+8)
ccording to the media, a Chile governor said that Chile will promote the tax reform by the end of June, including the Mining Committee royalties bill. Since Chile is the world's largest copper producer and the second largest lithium producer, the bill could have an impact on the mining in Chile and around the world.

SHANGHAI, June 17 - According to the media, a Chile governor said that Chile will promote the tax reform by the end of June, including the Mining Committee royalties bill.

Since Chile is the world's largest copper producer and the second largest lithium producer, the bill could have an impact on the mining in Chile and around the world.

Chilean Presidential Secretary General Giorgio Jackson emphasized that tax adjustment is the top priority of the Chilean government. Chile is promoting comprehensive reforms of social programs from education to health care, and tax adjustments are key to raising funds.

"We'll announce tax reform on June 30 and several bills will be activated immediately, one of which is mining royalties," Jackson said.

Jackson added that tax reform, which is necessary for Chile's left-wing President Gabriel Boric to keep his campaign promise. The money would be used to support research and development in new growth areas.

Boric, who took office in March, said during his presidential campaign that Chile should not make the historic mistake of privatizing resources again. Boric advocates higher taxes and royalties for mining companies, and intends to create a state-owned enterprise to develop lithium mines.

Boric had strong support during the campaign, but his approval ratings have now fallen sharply due to high inflation and ongoing social unrest.

Chile is redrafting its constitution, which contains some issues closely related to the mining industry. For the world's major mining companies, the most critical one is the proposal to nationalize Chile's domestic minerals.

However, with the newly released draft failing to gain sufficient support, the process of nationalization of Chile's minerals has been blocked and may eventually fail to pass.

Chile will hold a referendum on the draft constitution in September this year. If the vote fails, Chile will continue to use the current constitution.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
China Smartphone Shipments Decline YoY in Q3, Huawei Only Major Brand to Post Double-Digit Growth
Oct 16, 2026 17:27 (GMT+8)
China Smartphone Shipments Decline YoY in Q3, Huawei Only Major Brand to Post Double-Digit Growth
Read More
China Smartphone Shipments Decline YoY in Q3, Huawei Only Major Brand to Post Double-Digit Growth
China Smartphone Shipments Decline YoY in Q3, Huawei Only Major Brand to Post Double-Digit Growth
【China Smartphone Shipments Decline YoY in Q3, Huawei Only Top Vendor to Post Double-Digit Growth】China smartphone shipments in Q3 2026 totaled approximately 57.9 million units, down 15.4% year-on-year, compared to a decline of approximately 4% in H1. By vendor, Huawei held a 21.1% share, up 17.3% YoY, making it the only major vendor to achieve double-digit growth; Apple held 17.8%, down 4.3%; OPPO 15.5%, down 17.6%; vivo 15.3%, down 24.9%; Xiaomi 13.8%, down 20.4%; and Honor 13.0%, down 24.2%. The quarter was characterized by declining volumes and rising prices, as cost increases pushed up average selling prices.
Oct 16, 2026 17:27 (GMT+8)
Guanghua Technology Reports Strong Revenue Growth for First Three Quarters
Oct 16, 2026 17:19 (GMT+8)
Guanghua Technology Reports Strong Revenue Growth for First Three Quarters
Read More
Guanghua Technology Reports Strong Revenue Growth for First Three Quarters
Guanghua Technology Reports Strong Revenue Growth for First Three Quarters
【Guanghua Technology Reports Strong Revenue Growth for First Three Quarters of 2026】Guanghua Technology disclosed its Q3 2026 report, with revenue for the first three quarters reaching CNY 3.575 billion, up 74.89% year-on-year, net profit attributable to shareholders of CNY 129 million, up 42.29% year-on-year, and non-recurring net profit of CNY 124 million, up 40.44% year-on-year. For Q3 alone, revenue reached CNY 1.328 billion, up 74.15% year-on-year, with net profit attributable to shareholders of CNY 34.34 million, up 0.62% year-on-year.
Oct 16, 2026 17:19 (GMT+8)
Malaysia Discloses Battery Waste Volume Data for First Time, Mandatory Recycling Regime Not Yet in Place
Oct 16, 2026 17:16 (GMT+8)
Malaysia Discloses Battery Waste Volume Data for First Time, Mandatory Recycling Regime Not Yet in Place
Read More
Malaysia Discloses Battery Waste Volume Data for First Time, Mandatory Recycling Regime Not Yet in Place
Malaysia Discloses Battery Waste Volume Data for First Time, Mandatory Recycling Regime Not Yet in Place
【Malaysia Discloses Battery Waste Volume Data for First Time via Parliamentary Reply, Mandatory Recycling Regime Not Yet Established】Malaysia’s Ministry of Natural Resources and Environmental Sustainability disclosed for the first time in a written parliamentary reply that 13,743.15 tonnes of SW103-category battery waste were generated nationwide from 2021 to 2025, with only seven licensed off-site recycling facilities in operation as of March 2026, located across Kedah, Selangor, Johor, Perak, Negeri Sembilan, and Penang. The ministry also confirmed that a mandatory battery recycling (extended producer responsibility) regime for EV manufacturers has not yet been established, with legislation still under study regarding legal basis, funding mechanisms, and inter-ministerial coordination. The Department of Environment is drafting Phase 2 amendments to the Environmental Quality Act 1974, incorporating a blacklisting mechanism targeting repeat offenders.
Oct 16, 2026 17:16 (GMT+8)