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.
Last year, a new 19% VAT on digital services was introduced in Chile. The new law has far reaching effects on all companies that provide software as a service to Chilean residents and companies.
The Ministry of Mining and Energy reported that a total of 100 mining projects had their environmental permits approved during the first quarter of 2021. Future global growth in the mining industry will mainly be from copper and lithium. Chile has a fantastic copper project pipeline and abundant lithium.
Chile uses electronic invoicing but many companies do not know that they only have 8 days to reject an invoice. If an invoice is not rejected then it can be used as evidence that a service was provided even when it was not.
We set out this year to interview operational and managerial staff from both the Chilean and Peruvian mining industry. We provide the number one piece of advice that came from those interviews.
Mauricio Jiménez, Managing Director of Schenck Process South America regarding their operations in the Regions, new trends in global technology, and opportunities for foreign suppliers.
Foreign companies will often use joint ventures to enter a new market or to assist on a specific project. We provide a high level practical overview of how they can be structured in Chile.
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