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Chile's presidential election could give Codelco cash boost

Reuters on Nov. 22 reported that Codelco could see a cash boost regardless of who wins Chile's presidential election in December, with both candidates pledging to scrap a law that mandates the miner to hand over 10% of its export sales to the military.

Both conservative front-runner Sebastian Pinera and his center-left rival Alejandro Guillier plan to overturn the rule, but the newswire said there is no assurance that Codelco would get to keep the funds. This matter will be decided by Congress, should the law be scrapped.

According to Reuters, Codelco's export sales reached US$866 million in 2016. The presidential election is set to be held Dec. 17.