EXT/MAK/PDN/RIO: Namibia to lift tax to 44% on all except...

  1. Sera
    816 Posts.
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    25/07/11
    09:59
    Post #: 8720498
    EXT/MAK/PDN/RIO: Namibia to lift tax to 44% on all except diamonds
    Reuters reports Namibia plans to raise its mining tax by 17% to 44% from 37.5% currently according to
    the statement e-mailed to Reuters on Friday by the Namibian Ministry of Finance.
    The tax will apply to all commodities except diamonds.
    Rio Tinto and Australian miner Paladin Energy are the current uranium producers in Namibia. Extract is
    approaching production. Minemakers is mining for marine phosphates in j/v. There are several Aussie
    explorers also in Namibia.
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