Its great to see this almost finalized, as least the big miners have a good idea what they now will be paying. Pretty much divide the number of profiting miners into the $1 billion and you would get the max amount payable by each. Then do individual percentages on each profitable company, get an average percentage, and that should be the amount of tax payed on each miners profit. For now, the more profitable miners operating, the less tax payable by each.

I dont know how many miners are operating in Peru that would contribute to this tax at present, nevertheless, I beleive the $1 billion to have little impact on the miners profit. Most people hate taxes (me included) but in this situation I think it is very rational and reasonable. This country is a poverty stricken country that has been emerging from that over the last few years and this will help the economy to grow, which in turn will help future mining projects to come online. It will cut down on the objections from local communities toward mining projects as long as they know these projects will better their lifestyles.

I know Barrick, other companies and SLI as well have made contributions to the local communities in the past, strengthening community relations. This new tax will only make that better going forward, the better the people feel, the more willing they will be to help push development forward. Its a win/win in my opinion.

Here is a little comparison to the other SA countries taxes;

http://en.mercopress.com/2011/08/26/mining-companies-agree-to-pay-peru-an-extra-billion-dollars-annually

Notice Peru was the lowest.