- A new 5% Net Smelter Return Royalty ("NSR") in favor of the province, which is in addition to the 3% NSR in favor of the province that already existed;
- A new requirement for Petrominera, a resource company owned by Chubut province, to receive no less than 4% of total sales; and
- A new requirement for Petrominera to receive a 7.0% direct carried net pre-tax profit interest. (In the event that a company can demonstrate that Petrominera's right to 4% of total sales would render a project uneconomic, then Petrominera's participation on the project's total sales would be reduced by up to 75%. However, in such case, the net pre-tax profit interest would be increased to a minimum of 12%.)
Pan American Silver Comments On Draft Mining Legislation Submitted To Chubut's Provincial Parliament
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.