Loading ...VANCOUVER, Dec 3 (Reuters) – Canadian gold miner Goldcorp Inc said on Wednesday it will examine its future investment in Guatemala following the country’s move to raise mining royalties from 1 percent to 10 percent.
Late last week, Guatemala’s Congress changed a nearly 20-year-old mining law to raise the royalties. Proposals to increase the levy had failed in previous years, and such a steep increase had seemed unlikely.
Guatemalan President Otto Perez has yet to sign the measure into law, but the country’s main industrial chamber has already said it is mulling a legal challenge.
Goldcorp, which operates the Marlin mine, the country’s largest, said it would have to look at its future investment in Guatemala as a result of the new measures.
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