Boston, MA -- (SBWIRE) -- 06/24/2014 -- The Ministry of Mining and Ministry of Environment, among others, governs the mining industry in Chile. The Mining Code and Organic Constitutional Law on Mining Concessions are responsible for granting mining concessions for either exploration or exploitation.
- The Ministry of Mining ensures the formulation of and compliance with mining policies, incorporating sustainability and technological innovation, to maximize the country's economic, environmental and social development.
- The Ministry of Energy operates in collaboration with the President, and takes care of the governance and management of the energy sector.
- The Ministry of Environment ensures the protection of natural resources and is responsible for the development and implementation of various environmental management tools in law, and education environmental and pollution control.
- The National Service of Geology and Mining (Sernageomin) provides technical advice on geology and mining to the Ministry of Mining.
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The report outlines Chile's governing bodies, governing laws, mining licenses, rights and obligations and key fiscal terms which includes business profit tax, tax on operational mining income, other taxes, municipal duty (commercial license), real estate tax, capital gains tax, stamp duty tax, depreciation, withholding tax and VAT.
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