CMOC and its state-owned partner Gécamines reached a “consensus on the royalties issue” at the Tenke Fungurume operation.

The government has already made changes to the so-called royalty bill, bringing down the average effective tax rate to an estimated 46%.

Monday’s approval by Chilean ministers of a $3 billion-plus overhaul at Los Bronces gives Anglo’s production output a major boost. 

The company would "desperately" like to work with the government to solve regulatory and tax issues.

The administration of President Gabriel Boric is optimistic over an agreement between Tuesday and Wednesday, Mining Minister Marcela Hernando said.

A Senate commission is expected to vote on the royalty on Tuesday and would pass to the full Senate if approved.

Chinese GDP grew by 4.5% year on year in the first three months of 2023, beating analyst expectations of 4% growth.