- 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
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