lights north i was at the conference and heard the excellent...

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23/05/22

19:21

Post #: 61574398
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Originally posted by LightsNorth: ↑

The most important thing for a raw material company is, of course, the minerals, ie the geological possibilities. But in addition, it is about political stability in the country and the tax conditions, infrastructure and access to electricity, water and educated labor, writes the newspaper Sermitsiaq.

The mining industry's investments are long-term, and therefore it is a prerequisite that good stable partnerships are created between the authorities and the mining companies, said James Fergusson, director of the Canadian company Barrick Gold Corporation, which has mining activities in 17 countries on 4 continents.

He was invited to the Future Greenland conference to talk about the obstacles he sees for Greenland as a mining country.

And a significant barrier, according to him, is our tax system:

- The corporation tax in Greenland is higher than in many of the countries we otherwise work in. In addition, there are royalties of between 2.5 and 5.5 percent. Finally, an additional tax of 15 percent must be paid if the companies make a profit of more than 40 percent.

The latter tax is particularly problematic, because if the authorities take too much in good times, it will be difficult for the raw material companies to survive when commodity prices fall in the hard times.

https://sermitsiaq.ag/skattesystem-blokerer-mineselskabernes-interesse

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lights north i was at the conference and heard the excellent speech i suggest instead of picking the pro ggg good bits you put the main points of his speech in as well these were
1) a country has the right to choose what it wishes to mine not the company
2) there is never anything comes from taking legal action against a country as even when you win the country dont pay

really is it not time to concentrate on fixing the problem rather than these wild dreams ,time to move this company forward away from this self imposed disaster

GGG Price at posting: 6.4¢ Sentiment: Sell Disclosure: Held
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