President Otto Perez Molina has approved a new rule passed by the Congress last week, which rises taxes to transnational miners operating in the country from 1% to 10%.
In his first investor day since buying Xstrata last year, Glencore’s boss highlighted his company’s spread of commodities and took aim at the expansion strategies of Rio Tinto and BHP Billiton.
Anglo’s boss Mark Cutifani says company needs to find an extra $2 billion of earnings before interest and tax to meet the return on capital target set for 2015.
