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World markets  |  November 30, 2012 09:55:24

Randgold et al. Ivory Coast approved the new mining tax in the range of 9-19%


Ivory Coast Parliament Committee approved the proposal for a new tax that would have taxed 9-19 percent of operating profits mining companies. In the case of gold mining will be taxed sales minus the average cost (set at 615 USD per ounce). Randgold has the country about 30% of the production and design of the new tax is already known for several months. Firm boss Bristow recently, however, said that the company is against new taxes for existing projects protected treaty on investment protection.

Randgold investor day yesterday said that it can increase the proven reserves of gold at several projects. Management in connection with the increased production outlook from 1.2 to 1.4 million ounces of gold in 2015.
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Randgold a spol.: Pobřeží slonoviny schválilo návrh nové těžební daně v rozsahu 9-19%

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