On May 17, 2023, the Chamber of Deputies approved the Mining Royalty with 101 votes in favor, contemplating its entry into force on January 1, 2024. The text of the bill remained in the presidential approval process awaiting its enactment.

In general, the regulation establishes a new tax based on two components: an ad-valorem component and another component on the mining margin. The different components contemplated will make up the so-called Mining Royalty to which mining operators will be subject.

The Tax and Mining teams of Barros & Errázuriz developed a report analyzing the details of the new regulation. Check it out here.