Metal Bulletin covers states' attempts all over the world to control natural resources. Click on the pointers on the interactive maps to view the measures governments have imposed to control their metal resources, and company responses.
0: Resource nationalisation drives away investment across mining industry Ver detalle |
1: Proposed super tax could deter investment in South Africa Ver detalle |
2: A briefing on Zimbabwe's state-owned miners Ver detalle |
3: Clarity needed on resource nationalisation to keep investment flowing Ver detalle |
4: A briefing on DRC's state-owned miners Ver detalle |
5: A briefing on Mozambique's state-owned miners Ver detalle |
6: A briefing on Namibia's state-owned miners Ver detalle |
7: Engaging is 'key to surviving resource nationalism' Ver detalle |
8: Zimbabwe's intentions must be deciphered mine by mine Ver detalle |
9: Merafe expects chrome ore export tax by year-end Ver detalle |
10: South Africa state mining company will be hived off as standalone entity Ver detalle |
11: Miners must learn diplomacy to address resource nationalism issues Ver detalle |
12: ANC blasted for misunderstanding mining, mixing signals on nationalisation Ver detalle |
13: Gecamines highlights the pitfalls for Africa's state miners Ver detalle |
14: Zimbabwe indigenisation drive blocks mine financing efforts Ver detalle |
15: A briefing on Zambia's state-owned miners Ver detalle |
16: A briefing on Guinea's state-owned miners Ver detalle |
17: Taxes, royalties and duties in DRC Ver detalle |
18: Royalties and taxes in Ghana Ver detalle |
19: Royalties, taxes and duties in Guinea Ver detalle |
20: Taxes and royalties in Liberia Ver detalle |
21: Taxes and royalties in Mozambique Ver detalle |
22: Taxes and royalties in Namibia Ver detalle |
23: Taxes and royalties in Tanzania Ver detalle |
24: Taxes and royalties in Sierra Leone Ver detalle |
25: Taxes and royalties in South Africa Ver detalle |
26: Taxes and royalties in Zambia Ver detalle |
27: Taxes and royalties in Zimbabwe Ver detalle |
28: African Mining Vision offers hope for fairer sharing Ver detalle |
29: Resource nationalism gains new traction as states look for prosperity Ver detalle |
Mineral-rich nations implementing resource nationalisation, especially those in Africa, must form more coherent legislation if they are to attract further investment. To read more about resource nationalism go to Metal Bulletin's website.
The state-owned mining company Gécamines is now reorganising and wants to raise copper output to 100,000 tpy by 2015, from about 18,500 tonnes in 2010.
Gécamines plans to produce 35,000 tonnes of copper in 2012 but will have to shake off its $1.6 billion debt.
Kalej Nkand is Gécamines’ chief executive; businessman Albert Yuma is Gécamines’ president. Both were appointed in 2010 by the central government in Kinshasa.
To read more about resource nationalism go to Metal Bulletin's website.
The Mozambican government wholly owns Empressa Mocambican de Exploracao Miniera SA (EMEM), which was established in 2009 to participate in mining projects, undertake exploration and mining development as well as promoting value addition to mineral products.
EMEM has a co-operation agreement with Australian coal group Cokal under which it will own 20% of Cokal’s future coal operations.
To read more about resource nationalism go to Metal Bulletin's website.
The key to navigating the pitfalls associated with resource nationalism in resource-rich countries is to forge relationships and engage with governments and state mining companies. To read more about resource nationalism visit Metal Bulletin's website.
Xstrata chrome joint venture Merafe, expects the government of South Africa to impose a $100-per-tonne export tax on chrome ore by the end of this year. To read more about resource nationalism in South Africa go to Metal Bulletin's website.
South Africa’s cabinet has approved hiving off the state mining company as a standalone entity, according to a post-Cabinet meeting statement on March 8, a move in line with proposals in an earlier report on greater state participation in the mining sector in the country. To read more about resource nationalism in South Africa visit Metal Bulletin's website.
South Africa’s shadow minister of mining, James Lorimer, criticised the country's ruling African National Congress party this week for showing poor understanding of the mining industry and sending mixed signals about possible nationalisation, with talk of using the constitution to force state ownership of Kumba Iron Ore. To read more about resource nationalism in Africa visit Metal Bulletin's website.
The inability of Democratic Republic of Congo state-owned miner Gécamines to extricate itself from years of financial losses, resulting in a $1.6 billion debt, casts doubt on African governments’ efforts to take their state mining companies to a new level of credibility.. To read more about resource nationalism in Africa visit Metal Bulletin's website.
The government of Guinea owns a 49% stake in Compagnie des Bauxite de Guinea SA (CBG), which was established in the 1970s. The Halco partnership owns the controlling 51% shareholding in one of the world’s single largest producers of bauxite.
Halco is a joint venture between Alcoa, Rio Tinto and Dadco Mining. CBG ships about 13 million tpy of bauxite.
To read more about resource nationalism visit Metal Bulletin's website.
Royalties: 0.5% for iron ore or ferrous metals, 2% for base metals, 2,5% for precious metals, 4% for precious stones, 1% for industrial minerals Corporate tax: 30% (40% corporate tax rate rest of economy) preferential Mining Code rate levied on net profits
Import taxes and customs duties: 2% and 5% for projects in exploration and operational phase respectively (rest of economy is charged between 5% and 20%)
Production tax: Not specified
Export tax: Between 1% and 2%, some companies exonerated. Rest of economy ranges from 1%, 1.5%, 3%, 5%, 6% and 10%
Other taxes: $60 per tonne levy on exports of unprocessed copper and cobalt. Dividends are subject to a preferential mining code tax rate of 10%. Exceptional tax on expatriates is 10%, instead of 25%. Withholding tax on interest and dividends: 0%, instead of 20%, on interest paid on loans contracted in foreign currency; 10% instead of 20% on dividends and other distributions. Exploration permit holder tax on surface area of mining concessions calculated at $0.02 per hectare in the first year, $0.03 per ha for second year, $0.035 per ha for third year.
To read more about taxes in DRC visit Metal Bulletin's website.
Royalties: 6%
Corporate tax: 35% (up from 25% in 2011)
Import taxes and customs duties: Miners are exempted
Production tax: Not specified
Export tax: Miners are zero rated
Other taxes: Companies earn 20% capital allowances for introducing new technology or capital equipment. Windfall profits tax: 10%. Capital gains tax: 10%.
To read more about resource nationalism in Ghana visit Metal Bulletin's website.
Royalties: 10% on bauxite exports; 5% on bauxite processed into alumina; 3.5% on iron ore concentrates; 7% and 3.5% for base metal ore and ore concentrates, respectively; 5% on gold and diamonds
Corporate tax: 35%
Import taxes and customs duties: 8% (increased from 5.6% in the amended mining code)
Production tax: No clarity on this
Export tax: No clarity on this
Other taxes: Tax on dividends is 10% (reduced from 15% in 2011).
To read more about taxes in Guinea Metal Bulletin's website.
Royalties: 4.5% for iron ore; 3% for gold and base metals; 5% for diamonds
Corporate tax: 25% tax on profit (after deducting royalties, rent and surtax).
Import taxes and customs duties: Between 2.5% and 25%.
Production tax: Not specified
Export tax: Not specified
Other taxes: Surface rent on contract area: $5 per acre for first ten years, $10 per acre for second ten years and subsequent years. Hedging transactions by mining companies are taxed separately.
To read more about resource nationalism visit Metal Bulletin's website.
Royalties: 3% for all minerals; 5% for precious metals; 6% for gemstones; 10% for diamonds
Corporate tax: 35%
Import taxes and customs duties: Miners are exempted
Production tax: Not specified
Export tax: Miners are exempted
Other taxes: Companies are exempted from paying dividend withholding tax.
To read more about resource nationalism visit Metal Bulletin's website.
Royalties: 4% on gold (increased from 3% in 2011)
Corporate tax: 30%
Import taxes and customs duties: 20%
To read more about taxes in Tanzania visit Metal Bulletin's website.
Royalties: 6% for large-scale diamond miners; 3% for small miners; 5% for gold; 3% for all other minerals
Corporate tax: 37.5% (London Mining’s tax rate was recently raised to 25% from 19%); African Minerals’ rate is going to be adjusted to 25%
Import taxes and customs duties: 15% sales tax on imports; 0% sales tax for plant and machinery
Production tax: Not specified
Export tax: 5.5% for big miners; 3% for small miners; 3% for minerals traders
Other taxes: Sierra Leone is in the process of increasing London Mining’s taxation payment to 25% from 19%.
Mining investors receive a 100% deduction for prospecting and exploration, a 40% deduction for the first year of production costs, 10% depreciation for research and development, and 10% amortisation for start-up costs.
To read more about resource nationalism visit Metal Bulletin's website.
Royalties: 4%
Corporate tax: 28%; 50% capital gains tax
Import taxes and customs duties: Not specified
Production tax: Not specified
Export tax: 15% export duty (there is no clarity whether this is being applied)
Other taxes: 36.89% tax on dividends; 5% levy on exports of unpolished diamonds; 10% secondary tax on net amount of dividends declared; generous capital expenditure allowances (eg tax deductions) for spending on exploration, equipment and development; no restrictions on repatriation of profits
To read more about resource nationalism visit Metal Bulletin's website,
Royalties: Doubled to 6% for base metals and 5% (from 3%) for precious metals
Corporate tax: 35% and 15% for minerals excluding copper and cobalt. 30% for miners listed on Lusaka Stock Exchange
Import taxes and customs duties: Between 20% and 40% (some companies exempted)
Production tax: Not specified
Export tax: Miners are exempted
Other taxes: Capital expenditure allowance of 25% on plant and machinery, commercial vehicles, 20% on non-commercial vehicles, and 5% on industrial buildings. 10% non-resident withholding tax including rent, contractors, dividends, interest, and management fees.
To read more about resource nationalism visit Metal Bulletin's website.
Royalties: 7% for gold; 10% for platinum (increased from 4.5% and 5%, respectively)
Corporate tax: 25%
Import taxes and customs duties: Miners are exempted
Production tax: Not specified
Export tax: Miners are exempted
Other taxes: 15% VAT (Companies gain VAT refunds from their minerals exports). There is a 1% transfer duty on mining claims; 15% tax on income of a holder of a special mining lease; 20% tax on exports of unprocessed chrome (no longer applicable because chrome ore exports are banned); $5 million for a diamond mining claim, $500,000 for a platinum claim, $2.5 million for a platinum mining licence.
To read more about resource nationalism visit Metal Bulletin's website.
The multi-national African Mining Vision (AMV) initiative offers an insight into the mindset driving the tide of resource nationalism sweeping across this mineral-endowed continent. To read more about resource nationalism in Africa visit Metal Bulletin's website.