Liberia, "the new democratic newspaper recently reported that non-compliance with mining regulations to ensure government control of the mining industry, the government revoked the license of the 25 mining companies on the grounds. This is the latest example of the recent African countries to increase the mining control over. In recent years, global commodity prices rise toward prosperity and promote African mining, African countries are preparing a Mining Deal and hope to increase the national income in the mining sector, to finance its own development plan.
According to the Southern African Times reported not long ago on the Zambia Congress of the International Mining and Energy Conference, the Southern African mining industry association called on the Southern African Development Community (SADC) member governments to consider various measures to obtain the maximum benefit from the mine of wealth for eradication of poverty. Namibia reported that Namibia is considering the super-tax levied on mineral. Tanzania Planning Commission recommended that the Government imposed high profits tax to mining companies. South Africa is being considered by the heavy taxes imposed on mineral resources, increasing government coordination and management of mineral resources and control of strategic resources to resource revenue-sharing.
Of mineral resources in many countries in Africa use tax rate basically remained at 3%, only a handful of countries to 5%. The value of mineral resources in Africa to use tax system is divided into (non-profit share) tilt to the mining company for a long time, the benefits of higher commodity prices are accounted for by these companies. 27 gold to Africa, for example, over the past 10 years the price of gold increased by 15% annually, but the gold company's average annual profit growth of 22%. Mining companies also enjoy full exemption from customs duties, import tax, dividend withholding tax and VAT, all kinds of concessions.
This case almost from the first advocated reform of the World Bank and other multilateral development banks. The original intention of this reform is to encourage private investment in the original state-owned mining-dominated field. "Unfair" mining concession, the past 10 years, the rapid rise of commodity prices and to enable African countries to the cumulative benefit from growth.
With the demand for minerals is growing year by year, the resource-exporting countries in Africa face it is necessary to improve the investment environment but also to fight the challenges of the maximum investment returns. This requires that African countries currently rely too heavily on the mining industry to attract foreign direct investment policy to adjust strategies to focus on the development of the overall coordination of the national economy. African countries in African Mining Conference held not long ago called for the sustainable development of mining, the focus is to ensure that the country can obtain a more equitable proportion of the mining tax to get more mineral revenues to finance their own development plans to meet a similar Millennium development Goals project.
In February of this year, many civil society organizations from Africa, the Americas, Asia and other places Qi Junan non-collective called on African governments to abolish the current mining preferential policies to increase the levy the mining tax, strict law enforcement measures to ensure that national mining development maximum benefit. Zimbabwe this year, 51% of the shares of foreign companies to transfer to the locals. Countries, including Libya and the Democratic Republic of the Congo (DRC) is assessing the mining industry, is about to modify the use of mineral resources fee provisions. Countries such as Guinea, Uganda, Mozambique and Gabon have also brewing a new initiative, the desire to master the national mining initiative.
Mining policy reforms in African countries, a number of international mining companies, venture funds has slowed down the pace of investment in Africa, but the world's untapped mineral resources are mostly concentrated in Africa, the African mining resource competition will become intense.
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