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SIMCO_suing. Will_NewCo/MSB grow_a backbone_and sue_also?
Easy_peasy, Chinese_Zijin producing_LCE in_Argentina in_8months
https://miningpress-com.translate.goog/nota/351194/zijin-logro-la-primera-produccion-de-carbonato-de-litio-en-3q?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
Those clever little Chinese accomplish in 8 months what we still haven't be able to do in 5 years.
The Doctor
Eramet_examining doubling_of lithium_capacity in_Argentina
https://www.reuters.com/markets/commodities/eramet-examining-doubling-lithium-capacity-argentina-2022-10-27/
So my question for today is... if Argentina doubles the amount of lithium being sent due west over Chile to the "shorter route to China/Russia" Pacific Ocean coastal seaports over Chilean roads/railroads (paid for by Chilean taxpayers) will the corrupt thieving politicians working to get this shipping "freebie" surreptitiously "allowed" through the Congress also get double their bribes/kickbacks?
The Doctor
Tesla’s_lithium supply_talks collapse_with Core_Lithium Ltd
https://www.bnnbloomberg.ca/tesla-s-lithium-supply-talks-collapse-with-australian-miner-core-1.1837974
Elon Musk now ready for lithium integration?
https://www.mining-journal.com/resource-definition/news/1442270/elon-musk-now-ready-for-lithium-integration
Dear Elon Musk, I will bet big bucks you would spend a billion dollars right now this very minute to travel back in time to that fateful December 30, 2017 day https://www.usmagazine.com/celebrity-news/news/amber-heard-ex-boyfriend-elon-musk-vacation-together-in-chile-pic/ and finalize that crumpled deal to buy lithium in Chile from us in Maricunga.
The Doctor
Overworked_Willy Kracht_trying to_put out_the fires_on the_new Royalty_Tax
being debated and convince possible future gringo/Whitey investors considering Chile that they will not lose thierfrockingass in Chile to all the conniving thieving corrupt parasitic politicians running this latest/newest mining-resource snatch-fest https://www.portalminero.com/wp/gobierno-asegura-que-nuevo-proyecto-de-royalty-no-pone-en-riesgo-el-desarrollo-futuro-de-la-industria/
and https://www.miningweekly.com/article/chiles-government-miners-still-clashing-over-mining-royalty-bill-2022-10-27
Poor Willy... he was such a nice tall honest straight-shooter good boy before he took this undersecretary job under anti-mining anti-USA anti-male Minister Marcela Hernando.
The Doctor
Marcela_finally allowed_into LME_lithium trading_pit. She_babbles on_about
"fair Royalty Taxes" (ha ha ha ha), more women in mining and Chile being a country of laws
https://www.portalminero.com/wp/ministra-hernando-somos-muy-respetuosos-con-nuestros-tratados-y-acuerdos-en-chile-existe-certeza-juridica/
but completely fails to even mention Codelco's (and her) land grab on Wednesday in Maricunga to seize lithium properties for the leftist/communist state of Chile.
2026 Presidential hopeful Marcela Hernando (3rd from left in picture) has finally (after 4 days trying) shaken the hand of a "lithium player" CEO of LME, Matthew Chamberlain... hooray for her.
The Doctor
Climber18,_if Putin takes_over in_Bolivia (Dec22) then_it will only_be a_year
more before the Russians sashay into (ie invade) Atacama Chile for our "cleaner almost zero magnesium with no pesky wet rain falling excessively" Chilean lithium and physically return the Red Corridor to "aggrieved" Bolivia so you have to index that international factor into the whole equation also.
The Doctor
SIMCO_wants US$2.5B_in legals from Chile/Codelco for land_grab
https://www-nuevamineria-com.translate.goog/revista/simco-acusa-expropiacion-sin-pago-tras-peticion-de-codelco-en-salar-de-maricunga/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US
We should sue Codelco/Hernando for at least US$5 billion... plus my expenses for having to cover this despicable state-sponsored theft of private lithium-producing property.
The Doctor
LPI_up 9.40%_Thursday morning. Ka ching...Maricunga_is "in_demand"
all of a sudden today. Are these new Codelco barriers to entry being artificially re-erected to keep us INSIDE the barrier as opposed to the "knee jerk" reaction to think the barriers are being erected to keep us OUTSIDE the barrier (which I admit was my initial knee-jerk thought Wednesday)?
Hmmm, this is a possibility I suppose but there are only three miners powerful enough to pull that reverse-engineering gigantic mindfock INSIDE ploy off successfully and that would be Rio Tinto first, SQM second or Albemarle third who would indeed want us INSIDE the barrier if one of them were buying us and they already secretly had Codelco (with their 88,000 - 325,000 mt LCE export license in hand) agreeing in writing to a much-much-less than 49% JV with them perhaps even in the 20%-30% range.
I tend to not give much credit to beaners in general on planning devious sheet like this... but either Rio Tinto, SQM or Albemarle have more than enough intelligent Whiteys (devoid of inferior beaner blood/DNA) on their payroll to concoct an elaborate reverse-engineering INSIDE-the-barrier scheme as this.
We need to watch this situation more closely. If we find out after October 28 (ie in the 2 weeks after the voting results) that Rio Tinto, SQM or Albemarle is buying us then I think we will have the proof that this latest Codelco kerfuffle is a well-calculated deliberate ploy to corner/lock-up the lithium market in Chile for one of these privateers and erect solid barriers of entry to future interlopers.
The Doctor
Salta_Argentina Mining_Chamber re: LithiumOPEC...fock you Chile &Bolivia
https://www-reporteminero-cl.translate.goog/noticia/noticias/2022/10/camara-minera-salta-rechazo-alianza-chile-bolivia-estabilizar-precio-litio?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en
The_handy-dandy Codelco_reference library_Part 1...cram course
Codelco US$32.14B debt
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169167469
Lithium Power International Ltd (ASX:LPI) Update on Codelco Partnering Process - Maricunga Lithium Brine JV https://www.abnnewswire.net/press/en/89551/Lithium-Power-International-Ltd-%2528ASX-LPI%2529-Update-on-Codelco-Partnering-Process-Maricunga-Lithium-Brine-JV-89551.html
Codelco will be forced to negotiate with SQM or Martín Borda to exploit lithium in Maricunga
https://www-mch-cl.translate.goog/2017/08/14/codelco-se-vera-obligado-negociar-sqm-martin-borda-explotar-litio-maricunga/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp#
Codelco Looks to Privatize Some Assets to Prepare for JV Opportunities in the Future
https://www.miningfeeds.com/codelco-looks-to-privatize-some-assets-to-prepare-for-jv-opportunities-in-the-future/
Codelco: Company or public service?
https://www-mch-cl.translate.goog/columnas/codelco-empresa-servicio-publico/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp#
Codelco will be forced to negotiate with SQM or Martín Borda to exploit lithium in Maricunga
https://www-nuevamineria-com.translate.goog/revista/codelco-se-vera-obligado-a-negociar-con-sqm-o-martin-borda-para-explotar-litio-en-maricunga/?_x_tr_sch=http&_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en
Codelco monitors (spies) on Martin Borda's lithium project and asks government for information
https://www-portalminero-com.translate.goog/pages/viewpage.action?pageId=146017299&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en&_x_tr_sch=http
Government obtains permission for Codelco to exploit lithium and will not be able to cede control of the subsidiary
https://www-mch-cl.translate.goog/2018/03/05/gobierno-logra-permiso-codelco-explote-litio-no-podra-ceder-control-filial/?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en
Codelco will extract lithium in the Salar de Maricunga (last day in office for Mining Minister Aurora Williams)
https://mineriaenlinea-com.translate.goog/2018/03/codelco-extraera-litio-en-el-salar-de-maricunga/?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en
Codelco's charter reference restricting it to only copper (no lithium)
https://www.google.com/books/edition/_/BNN6-zkm5M8C?hl=en&gbpv=1&pg=PA157
Codelco process for lithium is judicialized: Salar Blanco accuses invalidity of government permit (Good summary of MSB lawsuit)
https://www-nuevamineria-com.translate.goog/revista/proceso-de-codelco-para-el-litio-se-judicializa-salar-blanco-acusa-invalidez-de-permiso-del-gobierno/?_x_tr_sch=http&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en
Previous Codelco drilling plan in Maricunga (which flopped and went nowhere)
https://seia.sea.gob.cl/archivos/2020/09/29/Apendice_V-1_Fichas_Resumen.pdf
Codelco history
https://www.codelco.com/memoria2019/site/docs/20200414/20200414001430/annual_report_2019_codelco_3_25_20_21_timeline.pdf
Previously organized company to run Maricunga Lithium operations for Codelco
https://www.codelco.com/memoria2019/site/docs/20200414/20200414111257/annual_report_2019_codelco_111_117_mining_companies.pdf
Chile's Codelco says to proceed with lithium plans at Maricunga after regulator approval
https://www.reuters.com/article/codelco-lithium-idUSL1N2HR38J
Old slimy hush-hush backroom deal with China to exploit lithium in Chile
https://www-mch-cl.translate.goog/2017/12/22/codelco-acuerda-colaboracion-minmetals-ano-del-fin-sociedad-paraiso-fiscal/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
Codelco CEOL 2018
https://www.diariooficial.interior.gob.cl/publicaciones/2018/03/01/41996/01/1360658.pdf
Advancing lithium projects & expansions (secret plan on how to divvy up Maricunga without stirring up a sheetload of dust/suspicion)
https://www.cecorp.ca/documents/en/IndustrialMinerals.pdf
Codelco has a LCE export quota license of 325,000mt
https://www-mch-cl.translate.goog/2017/08/14/codelco-se-vera-obligado-negociar-sqm-martin-borda-explotar-litio-maricunga/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US#
Private firm (us at NewCo/MSB) takes on Codelco for control of Chile lithium deposit
https://www.reuters.com/article/us-chile-lithium-maricunga-idUSKBN1IA0GZ
Part 2 of Martin Holland's legal battle against Codelco
https://www-atacamanoticias-cl.translate.goog/2018/05/10/maricunga-el-proximo-round-de-la-lucha-por-el-litio/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
Codelco mining ownerships and partnerships with 3rd parties
https://www-codelco-com.translate.goog/asociaciones-de-exploracion?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp#top
Codelco's lithium exploration under Nelson Pizarro (was a feeble attempt to say the least)
https://www.reuters.com/article/us-mining-bmo-codelco-intl-idUSKBN168330
The Doctor
Climber18,_if we_get up_off our_yellow belly_and counter_sue Codelco
and specifically enjoin Marcela Hernando in the lawsuit (to include punitive damages) then they don't have a chance of getting started on mining smack dab right in our backyard starting "in" our ground-zero Mother Lode over the next 3 years as our attorneys "bury them" in depositions/show-cause-briefs/weekly-challenges to the original expired/failure-to-execute-on-time CEOL
https://www.diariooficial.interior.gob.cl/publicaciones/2018/03/01/41996/01/1360658.pdf
https://www.diariooficial.interior.gob.cl/edicionelectronica/index.php?date=01-03-2018&edition=41996
but we would have to fire that slimy no-backbone weasel Crystalballs, fire 3/4 of the useless/parasitic limpdick do-nothing LPI management and rehire Martin Holland as CEO to get us back into a position of power... because right now we have no power.
The Doctor
PS, once we begin a lawsuit against Codelco/Hernando you can bet not one other single lithium miner will make a move to start any project in Chile until our lawsuit is settled amicably and these other lithium miners know for sure where they will stand with this leftist/commie government.
Without_full nationalization_in ChileArgentinaBolivia there_is no Lithium_OPEC
https://miningpress-com.translate.goog/nota/351156/puede-argentina-unirse-a-chile-y-bolivia-para-fijar-un-precio-al-litio-trabas-y-criticas-al-plan-del-gobierno?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
The Doctor
Thieving_Ministry of_Mining trying_to outright_steal our_Maricunga land_by
formally declaring (through the courts) ALL Maricunga lithium producing properties belong to Codelco's 2018 CEOL
https://www-nuevamineria-com.translate.goog/revista/codelco-podria-convertirse-en-la-unica-firma-habilitada-para-explotar-litio-en-maricunga/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US
also see https://www-reporteminero-cl.translate.goog/noticia/noticias/2022/10/codelco-unica-empresa-permiso-extraer-litio-salar-maricunga?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en
Dear Codelco, by your cloak & dagger collusion with Marcela Hernando's newest "backdoor" thievery under the guise of her perverted/warped commie nationalism you have sunk to a new desperate despicable low... have you no pride or shame or sense of fair play? Granted you're a conned/duped US$32.14B in debt deadbeat worthy of some small measure of pity but now you are to become a fully-guilty repulsive thief in the night on top of that.
The Doctor
Ahhhh_soo, Japanese_Ambassador hints_at making_batteries in_Chile
for export to Mexico and Vietnam... and maybe USA next year. Does Ambassador Shibuya Hazuhisa know something we don't know?
https://www.latercera.com/pulso/noticia/embajador-de-japon-en-chile-llama-a-ratificar-prontamente-el-acuerdo-tpp11-para-impulsar-las-exportaciones-no-cobre/EGZ6BCUOGZHSNFUJ7J5I2LMTIA/
Translation to Google English
Hmmmm, lemme' see... do we know of any foot-dragging, no good faith money, limpdick, faggot japs investing in lithium miners in Chile that could possibly support the future Japanese lithium battery-making factory the Japanese Ambassador is envisioning?
Hmmmm I can maybe think of just one at the present.
The Doctor
Dear_Marcela, name_one industry_leader at_your phony dog &pony_show
in London https://www.portalminero.com/wp/ministra-de-mineria-aborda-politica-del-litio-y-royalty-con-lideres-de-la-industria-en-londres/
All the REAL lithium industry leaders (including LME executives) are back in their London offices doing real work and not in your "staged/rigged" audience listening to your phony malarkey at the women's Anglo Chilean Society conference & tea party for lesbos/dykes.
And you yammering on with your old worn-out leftist/commie "take over the miners" bullsheet in London is a DOA (dead on arrival) dud. You're no better than that useless talking-head fat-protoplasm placeholder Aurora Williams who was Michele Bachelet's mining minister.
The Doctor
No_electric Mercedes-Benz EVs for_Russkies
https://www.bbc.com/news/world-europe-63399179
SONAMI_still wants to_piss on_the Royalty_tax. You gotta'_love
those tenacious guys at SONAMI https://www.msn.com/es-cl/noticias/otras/presidente-de-sonami-califica-de-inconveniente-el-proyecto-de-royalty-tras-presentaci%C3%B3n-de-indicaciones/ar-AA13otKG
Translation into Google English
The Doctor
Royalty_tax gets_neutered down_to something_more palatable for_copper
miners to basically 1% kicking in at 50,000mt and elimination of the "unforgiving in bad economic times" broad-sweeping ad valorem component https://vnexplorer-net.translate.goog/royalty-hacienda-modera-impuesto-ad-valorem-pero-mantiene-recaudacion-s5330446.html?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp and https://www.portalminero.com/wp/gobierno-presento-indicaciones-que-reformulan-el-proyecto-de-royalty-minero/
If this new version from the Treasury Minister gets approved then it could be the template for lithium miners for form and function in due time.
The previous initially proposed 3% Royalty tax rate is definitely dead now... and good riddance to that nonsense.
The Doctor
Climber18,_regarding Joe_Biden's IRA catch-22, see my_post
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170214575
The key for beaner countries is to secure a FTA with the USA Like Chile has done which will be impossible for Bolivia with their upcoming Russian contracts https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170215022
In Argentina the powerful Chinese lobby will crush any attempt to sign a FTA with the USA in order to protect their lithium investment in Argentina and insure their lithium gets shipped "back home" as a first priority.
Yes, Uncle Posco would need to ship their Argentina lithium to South Korea and run it through a lily whitening cleansing operation in a factory in South Korea to get the beaner stink off it which will add another $10,000/mt to the final price, then ship it to Whitey in America to circumvent Joe Biden's IRA.
The Doctor
A_timely update_from Hahahaha_on LPI
https://hotcopper.com.au/threads/ann-quarterly-activities-report.7041628/page-23?post_id=64402378
I must say the mental picture I have in my mind of this unfortunate situation for LPI is indeed quite explicit/vivid... and smelly.
The Doctor
Naive_clueless anti-mining Minister_"hopes" new_royalty tax_won't frock
Chilean lithium miners too badly as she babbles on to a few straggler possible LME second-tier filing clerks & LME janitors since no real "decision-making" LME Executives wanted to attend this obvious "staged" feminist bully-pit pep-rally horsesheet Oprah Winfrey type gabfest https://www-redimin-cl.translate.goog/ministra-de-mineria-espera-que-acuerdos-de-tasas-impositivas-por-royalty-no-afecten-competitividad-nacional/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
Marcela Hernando is in London this week on a ginned-up junket/vacation trying to weasel her way into the LME trading pit (especially the struggling lithium pit) in order to look like an important jet-setting VIP diplomat and very-international bon vivant leading up to her 2026 presidential run to knock pansy Mommy's Boy Gabby Boric out of office. We are impressed that she has stopped wearing her trademark baggy el cheapo Walmart polyester pants suits and has instead adopted the Izkia Siches more hip stylish "I've made it" look which is a step up in class... but unfortunately she still has nothing noteworthy to say to the LME minions she was able to bribe into listening to her after-hours drab/empty commie/leftist songbird concert. The only thing LME wants to hear today from anyone in the Chilean Ministry of Mining is the new royalty tax rate on lithium miners shipping over 50,000mtpa of LCE, an explanation of the actual mechanics on how Chile is going to award hardcopy real EXPLOITATION lithium mining permits to miners other than SQM/Albemarle AND then how the awarding (ie doling out) of legitimate LCE export quota licenses will be TRANSPARENTLY executed going forward... all the rest is useless hot-air/chatter. The last thing of interest and most important to LME (and the entire lithium mining industry) is what the percentage of project ownership NLC (National Lithium Company) will carve out of the junior lithium miners'asses should these miners be forced to JV with the NLC? Will it be 51% or more?
And clearly today, Marcela Hernando does not have these key answers... hence the reason we only see these sad staged/choreographed Marcela-speeches at this "looks important but ain't important" Anglo Chilean Society generic dias this evening.
The Doctor
I'll_eat my_hat if_SQM or_Albemarle freely_joins NLC_without a_gun
pressed to their heads by the Chilean government https://www-redimin-cl.translate.goog/los-intentos-del-gobierno-para-crear-la-empresa-nacional-del-litio/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
You would have to be a complete idiot lithium miner to walk into the Ministry of Mining with a viable privately-owned lithium mine and ask the government to sign you up as a pissant minority partner in the NLC (National Lithium Company). This NLC won't get off the ground for 2 more years... if even that... Dear Mommy's Boy Gabby Boric, can you really afford to wait 2 more years on lithium expansion in Chile with you just holdingyourlimpcrock in your hand and everybody (ie voters) watching your every lame intimate move/stroke/misstep on nightly TV?
And you may say NLC is not or will not be another Codelco, but hey... you are beaner and like-minded beaners are running Chile. NLC will be another Codelco boondoggle (ie cash down the toilet) sure as the sun will come up tomorrow morning.
The Doctor
CATL_slows its_battery investment_plans in_US/Mexico
https://insideevs.com/news/618044/catl-investment-plans-us-mexico/
Hmmmm, so where instead will CATL build that battery-making factory I wonder? Well, wherever it is, you know the target country is going to have to have a FTA (Free Trade Agreement) with the USA. And as I recall Bolivia and Argentina do not have a FTA with the USA.
The Doctor
VW:_we need_miners... like_yesterday we need_them
https://www.mining.com/web/volkswagen-we-have-never-had-supply-chain-shortages-like-today/
Dear VW, well coincidentally we lithium miners just happen to need a Big Daddy Warbucks automaker to JV with. You should buy us before October 28 in order to begin a right smart paradigm upheaval in Chilean lithium mining.
The Doctor
All_talk... no_action by Anti-mining minister on_lithium
https://www-nuevamineria-com.translate.goog/revista/empresas-de-litio-en-chile-se-despliegan-para-agilizar-la-explotacion-del-mineral/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US
It is interesting that both BYD and CATL made their way into the Ministry of Mining to talk to that bonehead Marcela Hernando, but came away with nothing. That is a shame.
Interesting that there is not one single mention of Mitsui (or NewCo/MSB) going into the Ministry of Mining to discuss future lithium mining in Chile even though SQM and Albemarle made numerous visits there. I wonder why?
The Doctor
LPI_has published_their quarterly_activities_&cash flow_reports
through September 2022... it appears everyone got paid their salary in full for basically doing more of nothing.
https://app.sharelinktechnologies.com/announcement/asx/88b5144b3d03d3bf321cde27a73cc2fd
https://app.sharelinktechnologies.com/announcement/asx/19dced527c02894ad3e371984e60e2a7
The Doctor
Argentina_& Bolivia_pressing Chile_hard to_join Lithium_OPEC
https://www-redimin-cl.translate.goog/argentina-bolivia-y-chile-negocian-precio-comun-para-el-litio/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
Lemme' guess... so why are Presidents Alberto Fernández (Argentina) and Luis Arce (Bolivia) freaking out to have Gabby Boric join their new monopolistic organization/club? Could it be the high concentrations of magnesium (expensive to remove) in their lithium Bolivian/Argentine brines?
Bolivia 18.6 parts magnesium to 1 part lithium
Argentina 6.4 parts magnesium to 1 part lithium
while Chile is "suffering" only 1.4 parts magnesium to 1 part lithium https://miningpress-com.translate.goog/debate/351111/capello-cobre-es-mas-importante-que-el-litio?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
Or has Bolivia just realized that owing to its high annual rainfall that all of their lithium refinement will have to run through very expensive 100% DLE processing and cost them a huge amount in energy expansion/expenditures? And have the Argentinians realized that their Peronist DNA will sooner-rather-than-later destroy their economy with runaway inflation as the IMF is predicting? And so are they rationalizing that "tempering" their upcoming setbacks/hindrances/cripple-crapness with future Chilean successes might "even out the playing field" financially so to speak nicely for them by having a "share the pain share the profit" Lithium OPEC?... especially if Argentina and Bolivia can convince Chile to keep their volume of higher-quality cheaper-produced lithium LCE DOWN and prices UP. .
Everybody has (or is fast acquiring) an "angle" now.
The Doctor
Latercera_front page_reads... A_threat to_Chile: French lithium_mine
project could be the main supplier in Europe's electric car strategy
https://www.latercera.com/pulso/noticia/una-amenaza-para-chile-proyecto-de-mina-de-litio-francesa-podria-ser-principal-proveedor-en-estrategia-de-autos-electricos-en-europa/KSMI5G6AXFGSBFYSJMW4JX4ZV4/
Translation by Google English
and for more detail https://www.france24.com/en/business/20221024-france-s-imerys-announces-lithium-mining-project-aims-to-become-eu-s-top-supplier
Now we have to wonder... will all the leftists/commies/grifters in the Chilean government take the time to momentarily pull their greedy consulting-fees/kickback/commission suction tubes out of SQM & Albemarle'sasses to even read the main newspaper in Santiago? Or will they just keep gorging themselves primarily on these two golden gooses oblivious to the fast(er) changing lithium industry thinking their current Chilean lithium fiefdom impenetrable?
The Doctor
IMF_getting ready_to posit_a 1%_contraction in Chilean_economy
and is not going to grow at all for 2023 https://clapesuc-cl.translate.goog/en-los-medios/mision-del-fmi-se-reune-con-titular-de-hacienda-el-banco-central-y-economistas-de-clapes-uc?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
How anyone can still believe Mommy's Boy Gabby Boric knows even halfway WTF he is doing as president is simply astounding.
The Doctor
Senate_Mining Commission_vote on_Cu/Li Royalty Tax is_Nov 9
https://www-diarioconstitucional-cl.translate.goog/2022/10/22/royalty-minero-comision-de-mineria-del-senado-a-la-espera-de-indicaciones-del-ejecutivo-para-su-votacion/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US
The closing record of the Senate Committee's progress/advisements/testimonies is published
https://www-senado-cl.translate.goog/appsenado/templates/tramitacion/index.php?boletin_ini=12093-08&_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US
As long as we stay under 50,000mtpa of LCE export then we will avoid the Royalty Tax under this version of the proposed new law which now appears to be gaining firmer traction in the government.
The Doctor
The proposed 8-page bill is now available for review as Bulletin 12093-08 https://www.diarioconstitucional.cl/wp-content/uploads/2022/01/ROYALTY-boletin.pdf
which reads:
Establishes in favor of the State a compensation, herein called mining royalty, for the exploitation of copper and lithium mining.
Bulletin N°12093-08
I. Fundamentals
Whereas:
1. That Chilean mining has been the engine of the national economy since the origins of the Republic, even since colonial times, mobilizing the various productive factors involved in this activity so that the country could develop throughout its history.
In fact, this contribution of mining has been recognized since the 19th century. Don Juan Egaña, in his report presented to the Royal Court of Mines in 1803, pointed out that "This magnificent barrier (the Andes Mountains), and even its bases, are the most abundant deposit of all the mineral riches that nature has produced. The great quantity of subterranean fires, which prove so many volcanic eruptions, always benign, an immensity of creative materials or inseparable companions of the metals, poured out at all points, show that here exists the most copious origin and all the active principles of the mineral fecundity.
However, the return that this activity has had for the State of Chile, in terms of remuneration for the exploitation of the mining resource, has not been fully addressed, and our legal system lacks a Royalty applicable to mining.
Indeed, in the fourth part of the twentieth century it was already stated that "Historical studies of copper production in the world indicate that, since the beginning of our civilization, a little less than 200,000,000 metric tons of copper have been produced and consumed. Within this total, Chile has produced approximately 26,000,000 tons, that is, one out of every eight copper bars produced in the world. Moreover, this picture is pale in the face of studies that indicate that, in the 26 years that remain of this century, the world will consume about 400,000,000 tons of red metal, of which more than 100,000,000 tons are in our national territory.
In this way, it is clear the importance for Chile to have a robust royalty in the legal, since as a country, we are facing a decline in our natural resources such as copper, which obviously is a non-renewable natural resource, and of great importance in our society, not only in taxation, but in the whole economic aspect, functioning as the engine of our economy.
It is understood that the Royalty is a right that the sovereign State charges to the concessionaire for the exploitation of its natural wealth, which is applied in most of the developed countries, abundant in natural resources. In these countries, the State uses the royalty as an instrument of compensation for using a resource, which by constitutional provision belongs to the State.
2. That there is no mining royalty in Chile as such, from the point of view of economic theory, but only a specific tax on mining.
In effect, the Royalty on mining is the collection of a fee by the State for the mere extraction of its non-renewable mineral resources based on the compensation of individuals to the State for extracting and benefiting from the wealth contained in the subsoil. In effect, it corresponds to the payment for the use of a resource.
This is why it must be related to the extraction, and not to the sale or profit, otherwise it would be just another tax. In this sense, the project proposes that the royalty constitutes a right and not a tax technically speaking.
On the other hand, the legally denominated "Specific Tax on Mining Activity" is established in Title IV bis of Decree Law No. 824, which approves the text of the Income Tax Law (D.L. No. 824 or Income Tax Law). This tax was established by Law No. 20,026 of 2005 and was subsequently modified by Law No. 20,469 of 2010, which introduced modifications to the taxation of mining activity, specifically, modifying the applicable rates and introducing the concept of Mining Operational Taxable Income (RIOM). The tax is levied on the operational income of the mining activity exercised by a mining operator who extracts concession-able mineral substances.
In this regard, the BCN points out that "Comparing the elements of the tax with the elements of the mining royalty in Chile, it can be verified that the latter has all the elements and requirements of a tax: it is established by the State, it has a legal source, it is mandatory, the State has the power to enforce it through the Treasury, it requires the existence of a taxpayer (which in this case is the First Category Income Tax), it is applied on the basis of a rate or aliquot (definition: a portion of a larger whole) on a taxable base that depends on the existence of a taxable event (existence of taxable operational income of the mining operator), the amount to be paid depends on the annual sales of metric tons of fine copper according to a progressive table, it is contemplated in the Income Tax Law and the latter calls it "Specific tax on mining activity", all the legislation referring to it calls it a "tax", it has its own tax invariability regime (as indicated below); etc.
Moreover, the amount of the specific tax effectively paid is considered as an expense necessary to produce the income, for purposes of determining the First Category Tax (Article 31, paragraph 3, No. 2, of Legislative Decree No. 874), so that in short, it is nothing more than the accounting recognition of a disbursement that reduces the taxable base of the final Income Tax payable by the company. [In view of the foregoing, it seems correct to conclude that the so-called "Mining Royalty" in Chile is a specific income tax, and not a Royalty, from the point of view of the existing definitions"..
3. That the specific tax on mining, in its two versions, has not had a relevant effect from the point of view of GDP. In fact, according to data from the Internal Revenue Service5 , such tax has not meant more than 0.3% of GDP since its creation, even reaching in 2017 to be less than 0.0%. This contrasts with other taxes on specific products that are higher or equal to the share of mining in GDP, such as tobacco (0.5% of average GDP), fuel (0.8% of average GDP), and even the tax on legal acts (0.2% of average GDP). This shows how insignificant this tax has been for national and regional revenues.
4. Furthermore, not only is the amount of the specific tax insignificant in comparison to GDP, but it also bears no relation to the millions of dollars in profits received by public and private mining in Chile. Indeed, according to data from the BCN6 private mining during the years 2010 to 2016 reached profits of ThCh$ 54,272,476, paying in the same period by way of specific tax on mining of ThCh$ 2,098,269, and by way of income tax of ThCh$2,098,269, and by way of income tax of ThCh$2,098,269.
14,691,187, which is equivalent to 3.8% and 27% of the profit, respectively. In the same line,
5. That it is even possible to argue that this Royalty (understanding as such the specific tax) does not raise the total tax burden of the mining company, nor of its owner, partner, shareholder or holder, because once paid, it is one more expense, necessary to produce the income (article 31, paragraph 3, No. 2, of D.L. No. 874, Law on Income Tax), and as such, it is reduced from the Taxable Base on which the First Category Income Tax of the company is applied. For the same reason, it would not necessarily raise the tax burden of the owner, partner, shareholder or holder of the company, since it does not imply an increase in the tax burden of the Global Complementary or Additional Income Tax, as appropriate.
6. That in comparative law, it can be established that in Canada, the Province of New Brunswick, Argentina, Indonesia, the Philippines, Poland, Tanzania and Australia, something more similar to the Royalty than to a tax is set, given that in such countries "it is paid without relation to income, sales, profits or benefits, but to the value of the mineral, so that based on this element, it can be said that it would not be a tax .
7. That the Political Constitution of the Republic, in its article 19 N° 24, paragraph 6, prescribes that: "The State has the absolute, exclusive, inalienable and imprescriptible domain of all mines, including in these the covaderas, the metalliferous sands, the salt flats, the deposits of coal and hydrocarbons and the other fossil substances, with the exception of the superficial clays, notwithstanding the property of the natural or legal persons on the lands in whose entrails they are located. Surface lands shall be subject to the obligations and limitations established by law to facilitate the exploration, exploitation and benefit of such mines.
From this point of view, this declaration should go beyond a mere formality, given that, in practice, private mining exploits mining resources in greater quantities than the State (in the period between 2010 and 2016, private mining exploited 24,062,200 metric tons of copper, while Codelco did so for a quantity of only 11,803,5009 ). In this sense, the Political Constitution proclaims a series of characteristics regarding this domain that the State supposedly has over the mines, namely, its absolute, exclusive, inalienable and imprescriptible nature, which would allow justifying the existence of a right over its exploitation. In fact, the Constitution goes further, stating in paragraph 7 of the same aforementioned norm that: "The law shall determine which of the substances referred to in the preceding paragraph, with the exception of liquid or gaseous hydrocarbons, may be the object of exploration or exploitation concessions. Such concessions shall always be constituted by judicial resolution and shall have the duration, confer the rights and impose the obligations that the law expresses, which shall have the character of constitutional organic. The mining concession obliges the owner to develop the activity necessary to satisfy the public interest that justifies its granting. Its protection regime shall be established by said law, it shall tend directly or indirectly to obtain the fulfillment of that obligation and shall contemplate causes of expiration in case of noncompliance or simple extinction of the concession. In any case, such grounds and their effects must be established at the time the concession is granted" (emphasis added).
In this sense, it is clear that the mining concessionaire must then bear the obligations that the law expresses, which emanate precisely from his quality of owner of the concession, but not of the resource itself, which remains in the State.
In such terms, the establishment of a royalty is justified, since it constitutes a compensation for the fact that the State is deprived of the exploitation of the mines that belong to it. In effect, by virtue of these concessions, today private mining exploits copper in much greater quantities than the State, through Codelco, so that the State is divesting itself of a large part of the profits that could enter the patrimony of the Nation. In this way, there must be another way to compensate for this loss of important income that would make it possible to repair and mitigate the negative externalities of mining production in those communities where they are developed.
II. Matrix Idea
The main idea of this project is to create a Royalty applicable to mining in Chile.
III. Provisions of existing legislation that would be affected by the project
The bill creates a Royalty, which does not modify any provision of existing law.
THEREFORE:
We, the undersigned deputies, have come to present the following:
PROPOSED LAW
Sole Article: Establish a compensation in favor of the State for the exploitation of copper and lithium mining, equivalent to 3% of the nominal value of the minerals extracted. Such compensation shall be destined to development works in the communes where the respective deposits are located where the mineral is extracted, in order to mitigate the environmental effects produced by the mining activity.
The compensation shall be paid annually by the respective mining operator, in the case of concessionable mineral substances, while the concession is in force, and in the case of non-concessionable substances, from the beginning of the extraction until its complete exploitation.
However, this compensation shall not be payable to those miners who extract, in the case of copper, annual quantities of not more than 12,000 metric tons of fine copper, and in the case of lithium, annual quantities of not more than 50,000 metric tons of lithium metal.
Senate Deputies
Alejandra Sepúlveda
Jaime Mulet
Esteban Velasquez
Pedro Velasquez
Boric_at 27%_approval. It's_time to_pull a_Liz Truss_and resign_for
the good of Chile https://www.msn.com/es-cl/noticias/otras/baja-popularidad-de-boric-el-c3-adntimo-balance-de-la-moneda/ar-AA13fbQt
Translate into Google English
Tianqi: _We've been_good at_SQM. Dear_FNE, remove_our handcuffs
at SQM, it is time for us Tianqi Chinese to exert our full potential in the Chilean lithium business 2 years earlier than originally expected (by paranoid old geezer out-of-touch Whitey).
https://www.latercera.com/pulso/noticia/tianqi-recurrio-a-la-fne-para-alzar-restricciones-en-su-presencia-en-sqm/E2KV5R7MARATZDP7Z4PEF54YLU/
Translate into Google English
Tianqi wants all the initial paranoid business/management-involvement restrictions placed on it in 2018 removed. Man, these Chinese are patient.
Whew... talk about balancing a razor sharp double edge sword straight up in your hand. This is it.
The Doctor
RioTinto_wants to_hear from_OUR bankers...and other_lithium miners'
bankers also https://www.bloomberg.com/news/articles/2022-10-21/rio-tinto-seeks-pitches-for-lithium-deals-in-battery-metal-foray
and/or https://www.mining.com/web/rio-tinto-seeks-pitches-from-bankers-for-lithium-deals-in-battery-metal-foray/
It seems Rio Tinto now wants to get into the lithium mining business with a much bigger slice.
Hip hip hooray for Rio Tinto... just down the way from us here in Chile.
The Doctor
Argentina,_Bolivia, Chile_pretend they're_not creating_a Lithium_OPEC
https://www-nuevamineria-com.translate.goog/revista/argentina-bolivia-y-chile-buscan-acuerdo-ante-volatilidad-del-precio-del-litio/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US
Oh the Latin soap opera drama now sputtering up around all this lithium mining down in beaner land(s)... it is all so devious and squirrelly.
And now I am going to eat lunch and pretend I didn't just read this NME story... after that I will take a nap.
The Doctor
Ring_Ring. Hey,_Gabby Boric... call_from Liz_Truss for_you
Boric: I_demand respect...or I_will stomp_my feet and_whine
like a colic baby all day until I have my warm milk bottle and fall off asleep in my soft baby crib with my blankie
https://www.latercera.com/politica/noticia/le-exijo-respeto-la-enfatica-respuesta-de-boric-a-asistente-del-encuentro-pequena-empresa-que-lo-increpo-por-nueva-constitucion/TLCHE7VROJGFZC2G5AOVVAPA6A/
Mommy's_Boy Boric blames_his administration's_failures on_Pinera
and cries out (literally cries out) "I demand respect"... https://www.latercera.com/pulso/noticia/presidente-boric-reitera-que-malas-proyecciones-economicas-para-el-2023-responden-a-la-gestion-durante-la-pandemia/MFOKZOBO5ZCQVLFFCWASNXZUOA/
Translation to Google English
Dear Gabby, when you pull your headoutofyourass and start running this government like a responsible adult then we will give you some respect... until then go cry to all your surrogate lesbian/dyke mommies you installed in your lame inept cabinet.
The Doctor
Dear_Neighbor SIMCO/Sorcia, is_BYD or_CATL talking_to you?
You would tell us if they were talking to you... wouldn't ya?
https://www.portalminero.com/wp/estudio-valida-sistema-sustentable-de-extraccion-de-litio-que-devuelve-hasta-90-por-ciento-de-la-salmuera-al-salar/
The Doctor
Finally!_Some women_mining truck_drivers... attaboy...err attagirl
https://www.portalminero.com/wp/mujeres-se-graduaron-de-operadoras-para-camiones-de-extraccion-minera/
OK, now I am going on record as fully endorsing having women take over Codelco 100%... that will fix "things" good.
The Doctor