The industry agreed to pay high royalty fees in exchange for stability in 2005. Nevertheless, the government raised royalties in 2010 in order to reconstruct the country after the February earthquake that caused damages amounting to US$20 billion. Anglo views this as damaging to the perception of stability. On the mine that collapsed trapping 33 miners underground, it was reported that the mine had been closed but reopened two years ago. A small private company was operating the mine. The previous operator of the mine had left high grade ore to support the mining structure from collapsing. The new operator removed supporting structure resulting in the collapse of the mine. On the lessons from the experience of Codelco, the presenter stated that the State took over the operating mines and skilled personnel and continued to develop the skills of personnel. The South African situation is different to that of Chile. A lot of factors will determine the success of the state owned mining company, including but not limited to.- o The management of the company; o The commodity or commodities that the company will be involved in; o Available deposits of the commodity; and o The international demand and price of the commodity.