Copper Boss says mining tax not helpful

Diego Hernatrator esteira d4 valor do salariondez, president of Chile's state-owned Codelco, said a unique global mining and commodity price boom meant miners were doing well, but politicians did not help the situation by creating extra taxes.

He made the comments at a Melbourne Mining Club luncheon when asked for views on Australia's carbon tax, and Mineral Resource Rent Tax. "I think they should look at how to really take advantage of this as an industry ... not look after the short term and how we can increase taxes," Mr Hernandez said. "Of course I think taxes are important, but I hate when in Chile many of the decision-makers look at mining as a taxpayer and that's it." He said that led to a loss of opportunities such as taking advantage of production capacity, developing service companies and bringing in new technology. Chile produces 34 per cent of the world's copper. Codelco produces all of its copper...