CHILEAN REVIEW — Hefty foreign investment

The Chilean mining industry benefited from about US$1.5 billion in foreign investment in 1992, according to the Chile Copper Commission.

Projects with major investments included Cominco’s Quebrada Blanca, Rio Algom’s Cerro Colorado, Phelps Dodge’s and Sumitomo’s La Candelaria, Outokumpu’s and Placer Dome’s Zaldivar and Amax Gold’s Guanaco. The government is considering modifying the foreign investment law so that fixed taxation on the profits of foreign investments would be reduced to 42% from 49.5%, according to Metal Bulletin of London.