Marla.....
posted on
May 16, 2008 05:54AM
So far we still haven’t been notified of any changes to our concessions/operations based on the Mining Mandate. Talks on mining law are proceeding well. The windfall profits tax is already law and can range anywhere from having a significant effect on our profits to none at all. The latest story we heard from the ministry about how it would be applied would be at the none at all end of scale, with the reference price being adjusted quarterly to the market price. That has not been put into writing however so we will have to wait and see. There is not a lot new to report. So far we are not aware of any showstoppers in the mining law. There are some points that need some work but generally reasonable. It does not include a three-concession limit.
