On 16 August mining companies and the Peruvian government said that they had agreed a new royalty system. The new system is more what the companies wanted than the government did. In the new system, the government will charge royalties on operating profits, rather than easier-to-monitor sales. Currently, mining companies in Peru pay royalties of between 1% and 3% on their sales. The new royalty figure has yet to be published.
End of preview - This article contains approximately 550 words
