Pan American Silver Sees ’Minor’ Change From Peru Mine Tax

Bloomberg reported that a mining tax increase from Peru’s government will have a minor effect on expenses for Pan American Silver (NASDAQ:PAAS).

The market news is quoted as saying:

Peru’s 130-member legislature approved a new mining law Sept. 22 to increase taxes based on companies’ profits. The country is the world’s second-largest silver producer after Mexico. President Ollanta Humala came to power earlier this year as the country’s new President, vowing to raise mining royalties and tighten state control over Peru’s natural resources.

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