Showing 01 - 12 of 139 Results
Showing 01 - 12 of 139 Results
The Minerals and Mining Law of 1986 (PNDCL 153), as amended by the Minerals and Mining (Amendment) Act of 1994 (Act 475) and the minerals and mining bill of 2005 (law No. 703), regulates mining in Ghana. Under the Minerals and Mining Law, mining companies must pay royalties; companies may also pay corporate taxes at standard rates.
Free Carried Interests in Mining Projects, States Need to Rethink the Strategy. 2018-09-19 John C. Menzies. Natural Resource Governance Institute has issued a report on revenues received from listed mining companies in Ghana. As many who have done the cashflow analysis have long known that a free carried interest, funded out of cashflow is a
Is the government entitled to a carried interest, or a free carried interest in mining projects? To read more sign up for access or login here login here. In house counsel join for free. Follow Getting the Deal Through for the latest updates on law and regulation worldwide.
Jul 25, 2017· The introduction of a free carried interest for the government is not unusual in African mining jurisdictions and as an example both the Guinea and Mali governments have obtained a free carried interest of between 15% and 20% in new mining projects, whilst the DRC currently provides for a 5% interest and Ghana a 10% interest in their mining codes.
Minerals and Mining Act, 2006 Act 703 65. Offence and penalties under sections 62 to 64 66. Powers of search and arrest Surrender, suspension and cancellations of mineral rights 67. Surrender of mineral rights 68. Suspension and cancellation of mineral right 69. Suspension or cancellation of mining lease or restricted mining lease 70.
Jan 20, 2012· carried interest. A carried interest is a participation in an investment venture where the holder gets a share of the cash generated by the project (profits or cash flow) without having to contribute anything to the venture’s costs. The holder of such an interest is “carried” in the sense that the other venture participants pick up the
Carried interest has received a lot of attention in the press recently, and a great deal of controversy has long surrounded the issue. Even after all of the explanations in the media, however, few people really understand what carried interest actually is, how it works, and why it matters.
• State participation in oil, gas and mining often occurs through the involvement of state-owned companies in key extractive projects. • When participating prop-erly, states can create financial benefits, pro-mote capacity building, and improve monitoring of the oil, gas and min-ing sectors. • However, state partici-pation can also create
The Democratic Republic of Congo (DRC) has officially confirmed that it wants 35% free carry equity in mining projects under its revised mining code. The DRC a copper and cobalt producer with rich deposits of zinc, diamonds, gold, tungsten, iron, tin and coltan also seeks to raise mineral royalties to between 4% and 6%, from 2% and 2.5%
In all mining operations under a mining licence or special mining licence, the Government shall have at least a 16% non-dilutable free carried interest in the capital of the mining company. The Company’s pre-feasibility study on Chilalo in November 2015 (the “PFS”) did not provide for any Tanzanian Government free carried interest.
Zambia. Compare Download. 30.000000000000-15.000000000000 Zambia. Authors. Is the government entitled to a carried interest, or a free carried interest in mining projects? To read more sign up for access or login here login here. In house counsel join for free. Individual practitioners and lawyers may register for a free trial.
In effect, this all means investors could find a large percentage of their company not being under their ownership and, to some extent, given over for free! While certain other countries do have a free carried interest in mining, Kenya’s relatively new industry may mean that giving away 10% is premature.
Mining is carried out using a conventional drill, blast, load, and haul surface mining method with an owner fleet. Current mining production is approximately 50 Mtpa. The Essakane Gold Mine consists of several operating sites. The Essakane main pit is mined in several mining phases and accounts for over 80% of the production.
In effect, this all means investors could find a large percentage of their company not being under their ownership and, to some extent, given over for free! While certain other countries do have a free carried interest in mining, Kenya’s relatively new industry may mean that giving away 10% is premature.
Mining is carried out using a conventional drill, blast, load, and haul surface mining method with an owner fleet. Current mining production is approximately 50 Mtpa. The Essakane Gold Mine consists of several operating sites. The Essakane main pit is mined in several mining phases and accounts for over 80% of the production.
PwC Corporate income taxes, mining royalties and other mining taxes—2012 update 5 Indonesia has tax incentives for specifi c mining activities such as basic iron and steel manufacturing, gold and silver processing, certain brass, aluminium, zinc and nickel processing activities and quarrying of certain metal and non-metal ores.
the Government shall have not less than 16% non-dilutable free carried interest in the capital of the mining company. The Company’s DFS did not factor in any Government free carried interest. It is expected that the debt funding costs of a new project would be recoverable underneath the free carried interest, although this needs to be clarified.
The Tax Treatment of the Mining Sector: An IMF Perspective Emil M. Sunley and Thomas Baunsgaard1 This session of the workshop addresses the question of whether the development of the mining sector requires a sector specific taxation regime. The simple answer is “Yes.” The government, as resource owner, has a valuable asset in the ground.
Following the extensive amendments to the Mining Act, Cap.123 of the Laws of Tanzania (Act No. 14 of 2010) (the Mining Act) by the Tanzania Extractive Industries (Transparency and Accountability) Act, 2015 (TEIA) whereby a number of changes affected mineral rights holders, the Mining Act had two further amendments in 2017 as a result of a change in the Tanzanian government’s (Government
Oct 24, 2017· I used Google to look this up. Carried Interest, the term without the ‘free’ modifier, is actually in the financial and political news in the US right now, with regards to tax policy. Looking up Carried Interest, we find that it is an equity inter...
government shall be granted 30% free carried interest. •The investor is entitled to recover all capitalized preproduction cost in a manner to be agreed •The Company have the right to export its products and convert its money. •Relinquishment 50% after the initial exploration period + 25% after the first extension
Sep 11, 2018· Section 10 of the Mining Act, which proposes government free carried interest of 16 percent non diluted shares. To be clear, free carried interest is essentially the government of Tanzania getting a share in the profits of the mining company irrespective of any capital contribution.
government shall be granted 30% free carried interest. •The investor is entitled to recover all capitalized preproduction cost in a manner to be agreed •The Company have the right to export its products and convert its money. •Relinquishment 50% after the initial exploration period + 25% after the first extension
Sep 11, 2018· Section 10 of the Mining Act, which proposes government free carried interest of 16 percent non diluted shares. To be clear, free carried interest is essentially the government of Tanzania getting a share in the profits of the mining company irrespective of any capital contribution.
One such example, is the conversion of mineral and petroleum assets discovered by mining and petroleum companies in Papua New Guinea, to liabilities, called “free carried interests” for project landowners and the government of Papua New Guinea. Free carried interest, is a liability to a project partner such as a landowner group or the
4.5 Does the State have free carry rights or options to acquire shareholdings? The State is entitled to 10% free carried interest in an entity engaged in mining. This does not preclude the Government from any other or further participation in mineral operations that may be agreed with the holder of the mineral.
“free carried interest” as the interest derived from holding shares of which the holder enjoys all the rights of a shareholder but has no obligation to subscribe or contribute equity capital for the shares. The 2010 Act further provides that the level of free carried interest and state participation in any mining
Aug 26, 2015· The valuation report must sufficiently document the background of the fund, rights/economic benefit of the carried interest, how the valuation analysis considered the 59-60 factors and most importantly what the hypothetical buyer and seller could reasonably agree to be the expected benefit from owning the carried interest under consideration.
“Free Carried Interest” means Rowen’s free equity entitlement or free Participating Interest without the need to contribute to expenditure until commencement of commercial production (as that expression is defined and is satisfied in project finance documentation applicable to the mine or ore is being consistently mined on a continuous
New MPRDA starts with 20% free carry, maybe more. The Mineral and Petroleum Resources Development Amendment Bill, the legislation that will give the state a right to a 20% free carried interest in all new exploration and production rights in the energy field, has been passed by Parliament before it closed and sent to President Zuma for
Jul 11, 2012· A second development is the imposition of new or increased national ownership requirements. These are often free-carried interests, meaning the mining company bears 100% of the costs and the government gets its interest for free. In extreme cases we
Alliance Mining Commodities Ltd (AMC) is a privately-owned company that has been granted a Mining Concession by Presidential Decree for the development of the Koumbia Bauxite Project in the Gaoaul Prefecture in the northwest of the Republic of Guinea in West Africa. The Government of Guinea holds a 10 percent free carried interest in AMC SA, the subsidiary which holds the concession.
“The proposed revision of section 43 will ensure that government is entitled to receive an annual guaranteed payment from mining operations in the country for the free carried interest during a year that the mining companies decide not to declare dividend,” he stated.