MP Materials awarded $58.5 million tax credit for Texas rare earth magnet factory
MP Materials announced on Monday it has received a $58.5 million award from the US government to advance the construction of America’s first fully integrated rare earth magnet manufacturing facility.
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MP Materials awarded $58.5 million tax credit for Texas rare earth magnet factory
MP Materials announced on Monday it has received a $58.5 million award from the US government to advance the construction of America’s first fully integrated rare earth magnet manufacturing facility.
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Visit: 56
Australia considers tax credit for minerals processing, says industry group
The Australian government is considering a tax credit for companies that build processing facilities to boost the value of green energy minerals such as nickel and lithium, the head of a mining industry association said on Wednesday.
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Guinea talks carbon tax on mines as it seeks $4.3 billion loans
Guinea is planning to introduce a carbon tax on mining companies as it started talks with United Arab Emirates investors to raise $4.3 billion to fund development projects.
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Visit: 245
The 5% taxes on the export of sponge iron remains in place
Mining News Pro - Khuzestan Steel Sales Vice President said: From the beginning, we did not have 20% tax for the export of sponge iron, and until today we have exported this product with 5%, which of course, this percentage is not reasonable even in the summer when we have a surplus of products.
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Australian mining group pushes govt for tax credit as lithium, nickel prices slump
An Australian mining association has called for a new production tax credit during meetings with senior ministers called as nickel and lithium miners curtail projects and review new mines in response to a global slump in prices.
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US miners miss out on tax credit granted to processors
Mining News Pro - The US has spelled out new rules for tax credits manufacturers can receive for domestically producing parts necessary for the energy transition — and there’s a clear divide for miners and processors.
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Visit: 159
Mongolia, Rio Tinto have resolved nearly all copper mine tax issues
Mining News Pro - Mongolia has settled almost all of its outstanding tax issues with Rio Tinto over development of the giant Oyu Tolgoi copper mine and is confident that the remaining issues will be resolved, the country’s prime minister told Reuters.
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Mongolia, Rio Tinto have resolved nearly all copper mine tax issues- PM
Mining News Pro - Mongolia has settled almost all of its outstanding tax issues with Rio Tinto over development of the giant Oyu Tolgoi copper mine and is confident that the remaining issues will be resolved, the country’s prime minister told Reuters.
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Chile miners, facing higher taxes, seek faster permits, lower energy costs
Mining News Pro - Now that Chile has passed an increase in mining royalties, copper miners are pushing for incentives to keep investing in production of the metal needed for the renewable energy revolution, with steps such as cuts in energy costs, speeded-up permit approvals and other incentives.
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US Senate overwhelmingly backs tax treaty with Chile
Mining News Pro - The US Senate voted overwhelmingly on Thursday in favor of a tax treaty with Chile seen as crucial for ensuring access for US companies to lithium, a mineral essential for electric vehicle batteries.
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Japanese miners see Chile’s tax hikes deterring new investment
Mining News Pro - Japan’s miners see higher taxes in Chile potentially discouraging them from investing in new mines in the world’s top copper producer but would not lead them to quit existing projects, the head of an industry body said on Monday.
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BHP urges Chile gov’t to make further concessions on tax bill with $10bn at stake
Mining News Pro - BHP Group is looking for Chile’s government to make further concessions on a tax bill currently under debate in the senate before proceeding with an estimated $10 billion in investments in the country.
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Chile government says it will reach deal with copper producers before key mining tax vote
Mining News Pro - Chile’s government is confident it can smooth out differences with the country’s largest mining companies before a key vote in congress this week on a new mining royalty bill.
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Zambia plans mine-tax concessions while trimming budget deficit
Mining News Pro - Zambia plans to reduce its budget deficit next year, even as it makes further cuts to copper mining royalties, Finance Minister Situmbeko Musokotwane said.
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Chilean think-tank says Codelco pays more taxes but extracts less copper than private companies
Mining News Pro - A recent report by Chile’s Center for National Studies of Alternative Development (CENDA) shows that, between June 2021 and June 2022, Codelco was responsible for 30% of the country’s annual copper production and contributed 7.6% of the mining tax revenue while private companies extracted 70% of the copper and contributed 5% of tax revenues.
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Visit: 731
Peru lowers 2022 growth forecast and abandons mining tax hike plan
Mining News Pro - Peru on Thursday lowered the country’s economic growth forecast to 3.3% this year, the finance minister said, and officially abandoned a plan to hike taxes on the mining industry amid falling metal prices, high inflation and slowing growth.
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Indonesia to issue nickel export tax rules in Q3
Mining News Pro - Indonesia plans to issue a nickel export tax policy in the third quarter of the year, as authorities seek to boost revenue from exports while encouraging more domestic production of higher-value products, a senior official said on Monday.
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Chile mining companies say there is limited room to hike taxes
Mining News Pro - Chilean mining firms believe there is room to raise taxes in the world’s top copper-producing nation, but caution that any hikes should strike a balance to avoid scaring away investments, El Mercurio newspaper reported on Saturday.
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Miner BHP may reconsider investments in Chile if tax hikes go forward
Mining News Pro - Global miner BHP Billiton is likely to reconsider its investment plans in Chile, the world’s No. 1 copper producer, if the government moves ahead with mining tax hikes, according to a report on Sunday.
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Mkango’s DFS indicates $559m post-tax NPV for Songwe Hill rare earth project
Mining News Pro - Africa-focused rare earths explorer Mkango Resources has reached a major milestone with the release of a definitive feasibility study (DFS) for its Songwe Hill project in Malawi.
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Chile sticks to plan for new mining profit tax up to 32% linked to copper price
Mining News Pro - Chile’s finance minister, Mario Marcel, on Friday introduced a tax reform bill that increases copper mining royalties on companies that produce more than 50,000 tonnes a year and raises taxes on high-income earners to fund the government’s proposed social programs and reforms.
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California lithium tax would delay shipments to automakers
Mining News Pro - A proposed flat-rate tax on lithium produced in California’s Salton Sea region will delay deliveries of the electric vehicle battery metal to General Motors Co and Stellantis NV and may push some mining companies to exit the state entirely, industry executives told Reuters.
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California approves lithium tax despite industry’s warnings
Mining News Pro - Governor Gavin Newsom, a Democrat, approved the tax as part of a must-pass state budget on Thursday. The state legislature had signed off on the levy during deliberations on Wednesday night.
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Peruvian government to extend tax refund benefit to mining
Mining News Pro - During his intervention at the 2022 PDAC conference in Toronto, the Peruvian minister of economy and finance, Óscar Graham, announced that his government will extend to 2025 the tax refund benefit to mining and oil exploration, which was scheduled to end in December 2022.
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