Colombia always had the potential to become a major mining jurisdiction but the mining sector is now completely frozen. There is a high level of uncertainty due to the governments push to reform the mining code, create a state mining company, and new a environmental decree.
Transfer pricing poses a significant risk to companies who are operating internationally since many countries are looking at these arrangements to ensure that profits are not being shifted to lower tax jurisdictions unfairly. It is important that companies understand how transfer pricing works in every country they are operating in.
The USD$1.5b Santiago-Melipilla train project was announced last week. This project will increase ridership by 50 million per year and is part of a larger USD$5 billion “Chile on Rails” investment program.
The most common risk to companies operating in Latin America is related to employment laws and obligations. This week we will provide information on the mandatory leave that employees are entitled to as per Chilean Labour Laws.
Codelco has broken ground at the $1.4 billion expansion of the Salvador copper mine, which will extend the productive life of the aging operation by 47 years and increase output by almost 50%
Foreign companies operating in international markets need to be aware of how to manage the risk of corruption within their subsidiaries. This is particularly true in Latin America where operations can be far from the head office meaning local staff are often working with limited oversight.
Over the last 6 weeks, we interviewed maintenance professionals from both the Chilean and Peruvian mining industry. The idea was to provide foreign companies with an inside view into the local maintenance function from the perspective of those actually working in it. Check out our summary.
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