Chile continues to move forward plans to scrap Copper Law

摘要

Chile's Senate Finance Committee approved changes to the Ministry of Defence's (MoD's) funding regulations on 7 January, the MoD has announced. The proposed bill will establish a new form of financing for the Chilean military's strategic procurement programmes, which are currently funded through the controversial ley reservada del cobre (restricted law on copper). Under the law 10% of revenues from state-owned copper mining company CODELCO are levied and have been historically used for military procurement.