Value of the annual mining license

YearValue of the annual mining license
First 5 years of validity4/10 UTM
From year 6 to year 10 of validity8/10 UTM
From year 11 to year 15 of validity9/10 UTM
From year 16 to year o 20 of validity1.2 UTM
From year 21 to year 25 of validity3 UTM
From year 26 to year 30 of validity6 UTM
From year 31 of validity onwards12 UTM
* UTM (“Unidad Tributaria Mensual”) is a Chilean monthly unit of account for tax and penalty purposes, updated according to inflation.