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Friday, 2 November 2007

Mineral Royalties Watch (Thailand)

Always good to know what other nations are doing on this important issue. A reader has kindly forwarded the attached article on Thailand's recent increase in mineral royalties:

Mining companies operating in Thailand are grappling with calculating the impact of the Thai government's decision to increase royalty rates. Thailand announced on its Web site in October that the government had issued regulations to raise mining royalties on several minerals, including gold, lead, zinc and tin. It raised the base rate but lowered the maximum royalty it would apply to tin. But many mining companies were surprised by the announcement, which came to light after Australian gold miner Kingsgate Consolidated said in a statement to the Australian Stock Exchange that its production prices would be affected.

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