Not surprised- creating new taxes is 1 of the thin
Post# of 8054
Posted On: 09/14/2013 4:05:47 PM
Not surprised- creating new taxes is 1 of the things govt does best-it does reduce foreign investment-when Australia instituted a 30% export tax May 2012 China pulled out of some Australian projects it was going to invest in and Fortescue,w marginal costs at that time of ca 106,especially screamed bloody murder.
If this royalty passes it wont interfere w CWRN's China business because it would come out of CWRN's end and this is a trend-
saw somewhere when India was dealing w illegal mines that the defacto Indian tax on mining exports had been increased to 40%
Gold miners went crazy w marginal exploration when gold went to over 1800 and so some have all in costs of 1400/oz- silver miners all in cost is generally 20-28 so many have been hurting w the fall in silver and gold prices,and they would be thus be affected by a 7.5% EBITDA tax-double taxation- tax before and after EBITDA- making some of them unprofitable
I understand what u say about mining co's being viewed as an asset to their communities, esp in the 3rd world, though obviously many miners wont,arguing they are already raising the income of their workers compared to many non-mining jobs in those places
If this royalty passes it wont interfere w CWRN's China business because it would come out of CWRN's end and this is a trend-
saw somewhere when India was dealing w illegal mines that the defacto Indian tax on mining exports had been increased to 40%
Gold miners went crazy w marginal exploration when gold went to over 1800 and so some have all in costs of 1400/oz- silver miners all in cost is generally 20-28 so many have been hurting w the fall in silver and gold prices,and they would be thus be affected by a 7.5% EBITDA tax-double taxation- tax before and after EBITDA- making some of them unprofitable
I understand what u say about mining co's being viewed as an asset to their communities, esp in the 3rd world, though obviously many miners wont,arguing they are already raising the income of their workers compared to many non-mining jobs in those places
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