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Thursday, 16 October 2008

The Albidon DA?

Speaking of DAs, this report in the Post yesterday claims that Albidon, currently taking forward the Munali Nickel project, has an agreement with the government that protects the company from paying new mineral taxes until 2012. Apparently Albidon Mine has stated that its corporate taxes will remain unchanged at 25 per cent and 0.6 per cent royalty tax until January 2012 in case the incoming government decides to change the current mineral taxes. This means Albidon’s operations will attract a royalty tax of 0.6 per cent as opposed to the current 3% charged on base metals while the corporate will be paid at the previous 25 per cent instead of 30 per cent.

I have yet to track down where they got the information from. If someone knows the issues surrounding this DA, I would only be too keen to know!

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