Search Results
Ghana Earning Royalties and Corporate Tax From Gold Mining Companies
For centuries, Europeans stripped Ghana of its gold deposits to such an extent that in colonial times it was known as the Gold Coast.
Activist and Mine Workers Demand Africa Mining Tax Reforms
African governments should publish and review all tax subsidies and concessions given to multinational mining firms to boost resources that could be used for fighting poverty, activists said on Wednesday.
Tanzania Govern. Mining Firm More To Pay Tax
The Government plans to review its taxation structure in this year’s national Budget to get especially the mining companies to pay more, the Finance minister says.
Mr Mustafa Mkulo, the Minister for Finance and Economic Affairs, who is visiting neighbouring Mozambique, told The Citizen by telephone from Maputo yesterday that the review would particularly target the [...]
NovaGold Second Quarter Financial Results and Project Update
NovaGold Resources Inc.today announced its financial and operating results for the three months ended May 31, 2007, along with an update on the Company’s project development activities. Details of the Company’s financial results are described in the unaudited consolidated financial statements and Management’s Discussion and Analysis which, together with further details on each of the [...]
Rio Tinto makes a recommended all cash offer for Alcan
Rio Tinto and Alcan today announced they have reached an agreement for Rio
Tinto to make an offer to acquire all of Alcan’s outstanding common shares for US$101 per common share in a recommended, all cash transaction. The offer represents a total equity consideration for Alcan of approximately US$38.1 billion.
The offer represents a premium of 65.5 [...]
Xstrata Extends Offer for LionOre
Xstrata plc announces the extension of the expiry time of its all-cash offer to acquire all of the LionOre Mining International Ltd. (”LionOre”) shares to midnight (Vancouver time) on 28 June 2007. Following Xstrata’s decision not to match the offer made by OJSC MMC Norilsk Nickel (”Norilsk”) to acquire all of the LionOre shares, LionOre [...]
Disinvestment Blow to South African Mining
Disinvestment in South Africa grew sevenfold last year to more than R34 billion ($4.5 billion), exceeding the levels of inward investment even as merger activity inched up 5% to R284 billion ($37.9 billion).
Ernst & Young’s merger and acquisition review for last year, released yesterday, confirms more foreign money moved out of South Africa last year. [...]
Tanzania: Outrage Over U.S. Firm’s Exorbitant Fees
A wave of indignation is sweeping through the newly elected government at the revelation that the technocrats who negotiated Tanzania’s current agreements with multinational mining companies committed the country to lopsided contracts that granted the former generous advantages at the expense of the national interest.
Although the contribution of the mining companies to the Tanzanian economy [...]
