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MINING LAWS, CHANGES IN LEGISLATION/GENERAL DISCUSSION
blacksheep
post Posted: Dec 2 2019, 03:15 PM
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Growing inequality threatens mining
Richard Mills - Ahead of the Herd | December 1, 2019

QUOTE
Conclusion

For many the fruits of capitalism have shown up as spoilt goods. It’s harder to buy a house, get ahead, save for retirement. Working people are mad as hell, and they aren’t going to take it anymore.

Social upheaval is becoming more common in a greater number of countries. We’ve seen it in Chile, there is also social unrest in France, Spain, Germany, the UK (Brexit), Algeria, Iraq, Lebanon, Egypt, Russia, Hong Kong, Venezuela, Chile and Bolivia.

Especially in developing nations, ie. South America and Africa, politicians are pressured by their base, to enact policies that benefit everyday citizens. Inequality is a key driver of what is often a government-led attempt to download wealth from rich corporations to the poor.

Mining companies are targeted by governments intent on reaping more profits from them, expropriating mines, denying permits, or putting more restrictions on miners, all in the name of “the will of the people”. Indonesia’s ban on the export of raw ores, so they can be beneficiated locally, is one example, the closing of 23 nickel mines by Philippines President Duterte’s government is another.

Miners are easy targets because mining is a long-term investment and especially capital intensive. Mines are also immobile, so mining companies are at the mercy of the countries in which they operate. Outright seizure of assets often happens using the twin excuses of historical injustice and contractual misdeeds. There is no compensation offered and no recourse.

Countries are getting creative in how to bleed away miners’ profits. Governments have gone beyond taxation in getting more out of the mining sector with a wave of requirements such as mandated beneficiation (where ore is processed locally rather than exported raw), export restrictions and increased state ownership of mines.

As the demand by Western countries for these raw materials grows, the connections between inequality, social unrest and mining are tightening.


https://www.mining.com/web/growing-inequali...reatens-mining/



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 24 2019, 12:59 PM
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Mali's new mining code shortens stability period to 10 years -ministry
QUOTE
BAMAKO (Reuters) - Under a new mining code, companies operating in Mali will be protected from fiscal changes for 10 years, down from the previous “stability period” of 30 years, a senior mines ministry official told Reuters on Friday.

On Wednesday, the ministry announced the new code, which also ended an exemption from value-added tax during production, but did not specify by how much it would shorten the period under which firm’s investments are protected from changes to fiscal and customs regimes.

QUOTE
The new code is an opening salvo in what could be a protracted negotiation between the government and corporates over mining regulation in Africa’s third-largest gold producer. The move is seen by some as a new instance of resource nationalism on the continent.


read more - https://www.reuters.com/article/us-mali-min...y-idUSKCN1VD1UJ



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 6 2019, 12:15 PM
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Australia wants to streamline resource sector regulation
Valentina Ruiz Leotaud | August 5, 2019

QUOTE
Australia’s Productivity Commission will conduct a 12-month review aimed at streamlining regulation in the resources sector.

In an official communiqué, Commission representatives said the plan is to look at best-practice examples of regulation, both in Australia and globally, that will remove unnecessary costs for businesses while maintaining sound oversight.

In the group’s view, the sector is being held back by complex layers of state and federal regulations, especially when it comes to environmental approvals.

read more - https://www.mining.com/australia-wants-to-s...tor-regulation/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Apr 5 2019, 07:41 PM
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How countries are getting tougher with mining companies
QUOTE
A mix of political populism, higher commodity prices and the expectation electrification will spur demand for some raw materials has led resource-holding governments to change the rules for miners operating in their countries.

In most cases, governments are seeking to increase their share of profits, rather than all-out resource nationalism, although Mongolia has been trying to nationalise a stake in a copper mine.

The toughness is not universal.

Some governments see the hardened stance of other countries as a chance to lure investment. Ethiopia is rolling out pro-business reforms after Prime Minister Abiy Ahmed swept into office last year.

What's different this time?
Typically, resource holders have increased the demands they make of international companies when commodity prices rise.

Commodity prices have been increasing since the start of this year, but are relatively low and were still recovering from the crash of 2015-16 when the latest wave of resource nationalism began.

In Africa, Tanzania, regarded as an extreme example, turned on the miners after President John Magufuli swept to power in late 2015, pledging to secure a bigger share of the country's natural resource wealth.

"China's growing investment in mining projects has helped spur resource nationalism by giving many resource-rich countries an alternative to Western investment"
Industry insiders and lawyers say political populism and social media are impelling calls for a greater share, beginning with the local communities around mines.

They also say investment by China, and to a lesser extent Russia, increases the leverage of resource-holding governments.

"China's growing investment in mining projects has helped spur resource nationalism by giving many resource-rich countries an alternative to Western investment," Henry Hall, associate director at Critical Resource advisory firm, said.


read more - http://www.mining.com/web/countries-gettin...ning-companies/

MMG joins Glencore, ERG reviewing Congo plans after tax hike
Bloomberg News
QUOTE
Yet another foreign miner in the Democratic Republic of Congo is reviewing its future production plans after the government increased taxes and removed investor safeguards despite industry protests.

MMG Ltd., the Chinese-owned copper producer, is considering whether to invest in more expensive methods of mining the metal when existing oxide resources are depleted. It’s grappling with the same quandary facing units of Glencore Plc and Eurasian Resources Group Sarl, which have either downsized or suspended activities at copper-cobalt mines in the central African nation as they challenge the new mining code.

read more - http://www.mining.com/web/mmg-joins-glenco...plans-tax-hike/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 28 2019, 01:30 PM
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The mining industry has had it easy for far too long — opinion
Bloomberg Opinion
QUOTE
When should modern Americans care about legislation signed into law by President Ulysses S. Grant? When it causes deep environmental damage, deprives the federal treasury of billions, privileges one industry over others, practically gives away public lands, and hasn’t been significantly altered in almost 150 years.

The law in question is the General Mining Act of 1872, which governs the harvesting of gold, silver, uranium, copper, zinc and other minerals from federal lands. To say it’s long overdue for reform is an understatement.


QUOTE
Members of Congress from mineral-rich states, including some who sit on powerful resource committees, are looking at the issue. Frustrated by foreign companies extracting royalty-free gold and other hardrocks from American land, troubled by environmental disasters originating from old mines (like the one that turned Colorado’s Animas River a toxic yellow in 2015) and prompted by changing demographics, they are finally moving toward amending the law.


read more - http://www.mining.com/web/mining-industry-...long-editorial/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 20 2019, 09:15 PM
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Posts: 6,791
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Tanzania’s mining sector to relax protectionist regulations
Published 1 week ago on
QUOTE
Mining sector regulations that require Tanzanian local companies to own controlling stakes in multinationals, have been relaxed. Once seen as ambitious, the 2018 Mining Sector Regulations required Tanzanian companies to have at least 51 per cent stake in mining firms while multinationals were required to partner with their locally owned institutions.

The regulations and the Mining Act amendments, which were part of mineral sector reforms, were meant to give the government a bigger share of the mining sector pie.

Additionally, they sought to boost the participation of Tanzanian nationals and firms in multinationals’ operations. But a year later, further amendments have seen procedural ownership percentage reduced to 20 per cent. Analysts say that Tanzania, though endowed with abundant minerals, still feels little impact on its revenue collection.

The new Mining (Local Content) (Amendments) Regulations, 2019 reduced ownership restriction for local mining firms and financial institutions’ preference. Indigenous Tanzanian companies, under the amended regulations, now have to own a minimum 20 per cent equity.

Miners have welcomed the amendment, saying it will make the mining industry vibrant. “Many local companies, be they contractors, sub contractors, licensees, do not have the capital and capacity needed to bring about development in the mining activities,” said Mbwaike Mahyenga one of the miners in Mwanza.


“As much as we find it hard to admit that we run short in that respect, things such as machinery are expensive for some local companies.” The Mining Regulations on Local Content (2019), which came into effect on February 8, opened the gates for more local commercial banks to participate in mining activities.

The new regulations slightly reduced the stringent banking requirements, as not many banks operating in Tanzania fall under the definition of “indigenous Tanzanian banks.” Keeping the local content spirit as previous regulations, the Mining Regulations on Local Content (2019) still affects international banks like Barclays, Standard Chartered Plc, Stanbic Bank and First National Bank Tanzania Ltd — which is 100 per cent owned by the First Rand Group — a large financial services provider based in South Africa. Other banks are KCB Bank, Commercial Bank of Africa and Access Bank Plc.

Economists say that it is a welcome move since the new regulations will allow more local banks, which are not wholly Tanzanian-owned to provide services to the sector. Before the new rule, mining firms were allowed to have bank accounts abroad and repatriate some of their profits, which the government felt was weakening the local currency.

The calls for changes in the mining laws were partly due to claims that some miners, especially multinationals, were evading tax. The new structure seeks to establish even participation in mining activities by local entities including contractors, subcontractors, insurance companies and financial institutions.

Early last month, parliament of Tanzania approved a Bill designed to relieve small-scale miners of the burden of paying withholding tax of 5 per cent and 18 per cent value added tax, leaving the holders of a
primary licence with a 7 per cent tax obligation only.

https://newscentral.ng/tanzanias-mining-relax-regulations/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 

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blacksheep
post Posted: Feb 19 2019, 09:03 PM
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Malaysia lifts bauxite mining moratorium after 3-year ban

QUOTE
"The moratorium will not be extended after March 31 … I see that there is a strong demand for the bauxite industry in Pahang and the profit derived by the state is also enormous," Xavier Jayakumar said.

Jayakumar also added that while bauxite mining and export activities could be resumed, it would be done with new standard operating procedures and tighter law enforcements.

http://www.mining.com/web/malaysia-lifts-b...ium-3-year-ban/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jan 23 2019, 10:26 AM
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Some mixed messages - mining companies haven't been able to develop assets since the Govt said they were reviewing each and every one. Are they only targeting "large-scale miners" such as Barrick and Anglo?

Tanzania to cancel licenses for undeveloped mineral sites
Bloomberg News | about 6 hours ago |
QUOTE
Tanzania intends to cancel permits for mineral sites belonging to large-scale miners that remain undeveloped and will allocate the licences to smallholders, President John Magufuli said.

The announcement comes amid a tax dispute between the state and Acacia Mining Plc, in which the government is demanding $190 billion in penalties, after claiming the company had under-declared export revenue since 2000.

The East African nation surpassed its mining-revenue targets for the first half of the current fiscal year by 8 percent to 167.5 billion shillings ($72.3 million), Magufuli told mining executives in the commercial hub of Dar es Salaam Tuesday. Earnings in the 2017-18 year jumped 55 percent to 301 billion shillings, he said.

The state intends to hold discussions with mining companies on obstacles restraining the sector, Mining Minister Doto Biteko told the executives. The industry contributed 4.8 percent of gross domestic product in 2017, compared with 4 percent in 2015, Magufuli said.

(By Ken Karuri)

http://www.mining.com/web/tanzania-cancel-...-mineral-sites/

A previous PR re "large-scale" mining licences from June 2018 - https://www.reuters.com/article/us-tanzania...l-idUSKCN1IX5NN



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jan 14 2019, 08:07 PM
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In Reply To: blacksheep's post @ Jan 12 2019, 11:02 AM

Congo poll leaves uncertainty for miners at heart of EV revolution
extract
QUOTE
“It could be that, as a mining sector, we’re worse off than when we were under Kabila,” said one mining operator, who asked not to be identified. “There may be some improvements, but we’re not counting on it.”

QUOTE
Five mining executives contacted by Reuters said they were not yet operating on the assumption that Tshisekedi’s win would be validated by the Kabila-appointed Constitutional Court and expected the outgoing president to fight to keep his stranglehold on the sector. None wanted to speak on the record.

Companies could find themselves caught in the crossfire of turf wars over ministry jobs and positions in the bureaucracy, not knowing who is really in charge.

“There are always people you have to sway if you want a contract or a mining permit,” Stearns said. “At the top, these are Kabila’s people. That’s now going to be in a state of flux that, I think, is going to last months.”


https://www.reuters.com/article/us-congo-el...n-idUSKCN1P70DR




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jan 12 2019, 11:19 AM
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Constant change of Ministers is not helping to bring and end to this impasse. Magufuli also recently warned - “One day I may appoint myself the minister of minerals” "
Tanzania names latest mining minister in ongoing industry clash
QUOTE
DAR ES SALAAM (Reuters) - Tanzania named a new mining minister on Tuesday amid a prolonged spat between the government and gold producer Acacia over a $190 billion tax bill, which has severely limited the London-listed company’s operations in the East African nation.

Dotto Biteko, whose appointment was announced by presidential official John Kijazi on state television, is the third mining minister President John Magufuli has appointed since he was elected in 2015.

https://www.reuters.com/article/us-tanzania...h-idUSKCN1P20WS



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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