Economy & Business - July 2005

Chile: Private sector mining companies paid US$1.1bn in taxes in 2004. This was around seven times the US$160m they paid in 2003, the finance ministry reported. The Consejo Minero reckons that the figure will increase to around US$10bn in 2005 and 2006. The Consejo said that the increase was due to high copper prices and the starting up of new projects. The Consejo said that the 17 biggest companies had sales of US$20bn in 2004 and made profits of US$6.05bn. The most profitable company was Escondida which made profits of US$1.73bn. The state-owned Corporación del Cobre made profits US$1.1bn.

End of preview - This article contains approximately 250 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial