Guatemala Negotiates Mining RoyaltiesWhile waiting for the new mining law, the future Minister of Energy and Mines is negotiating a increase in payments to the State, which currently stand at 1%.Friday, January 13, 2012
Erick Archila, the newly appointed Minister of Energy and Mines of the government of President-elect, Otto Perez Molina, who will take office on January 14, said that they are holding meetings with various sectors, including the Extractive Industries' Guild, with whom they will negotiate the royalties. Source: prensalibre.com ¿Busca soluciones de inteligencia comercial para su empresa?Guatemala Plans to Raise Mining Royalties to 5%April 2014 The Guild of Extractive Industries would accept the increased royalties as agreed at the start of the Pérez Molina administration. Goldcorp Minera Agrees to Pay Higher Royalties in GuatemalaOctober 2011 In light of discussions in Congress over the mining reform project, representatives from mining companies are warning that royalties that should not exceed 8%. In 2010, Guatemala Exported $528 million in Gold and SilverSeptember 2011 Mining in Guatemala pays 1% in royalties. In Colombia, the royalties are 4% and in Chile's mining industry pays the state 14% of gross sales. Mining Royalties in Guatemala Could Rise to between 7% and 10%August 2011 The lead candidate in the polls for president, Otto Perez Molina, has said that the percentage paid by mining companies to the State should be between 7 and 10%.
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