Argentina: The mining export tax will not be reintroduced
After negotiations with opposition political groups, the Macri government in Argentina today reached an agreement on a 2017 tax package which was passed this afternoon by the upper house of Congress (Senate) and is expected to be passed by the lower house of deputies then signed into law by Macri soon. Most of the deal is about higher minimum level for non-taxable salaries for workers, but one point that matters to us is that the opposition plan to reinstate the 5% export tax on mining has been dropped. In the words of Sergio Uñac, governor of pro-mining San Juan province who was a voter of the deal that passed:
“Mining will continue without the export tax because it implied raised judicial insecurity, which I believe is the most complicated condiment we can show to international investors”.
China tycoon moves jobs to US, citing high taxes at home
Shanghai (AFP) – A Chinese auto glass tycoon has caused a stir by shifting part of his empire to the United States and setting up a factory in Ohio, citing high taxes and soaring labour costs at home.
Cao Dewang’s $600-million investment comes after Donald Trump threatened to declare Beijing a currency manipulator and slap 45 percent punitive tariffs on Chinese imports to protect American jobs.
The 70-year-old tycoon’s decision to open a glass factory in the eastern American state of Ohio in October — a rare case of jobs being exported from China to the US — triggered an outpouring of criticism on social media.
The phrase “Cao Dewang has escaped” became a hot topic, generating nearly 10 million views on the Twitter-like Weibo microblog and many comments urging China to “not let Cao Dewang run away”.
cont. https://www.yahoo.com/news/china-tycoon-moves-jobs-us-citing-high-taxes-093204655–finance.html’
Good morning Oasis
Trump win ignites hope for stalled Alaska copper, gold mine
http://finance.yahoo.com/news/trump-win-ignites-hope-stalled-203257990.html
Lundin Gold Signs Investment Protection Agreement for Fruta Del Norte
http://finance.yahoo.com/news/lundin-gold-signs-investment-protection-223000541.html
Wellgreen Platinum Provides Corporate Update
http://finance.yahoo.com/news/wellgreen-platinum-provides-corporate-023000248.html
Indonesia to allow export of mineral concentrates if conditions are met
http://finance.yahoo.com/news/indonesia-allow-export-mineral-concentrates-090451107.html
Auryn Provides Exploration Update and Plans for 2017
http://finance.yahoo.com/news/auryn-provides-exploration-plans-2017-120000687.html
White Gold Corp. Completes Name Change, Launches new Website and Exercises Option to Acquire Gold Properties in the White Gold District of the Yukon
http://finance.yahoo.com/news/white-gold-corp-completes-name-135341621.html
IAMGOLD Signs Agreement to Acquire 100% of Merrex Gold
http://finance.yahoo.com/news/iamgold-signs-agreement-acquire-100-141300446.html
Buygold
Have you done all your tax loss selling? LOL
Merry Christmas all.
Entering the Danger Zone
Just prognosticating but it seems to me we are the most vulnerable to a slam probably tomorrow and next week as markets are thin and trading winds down. There’s only $60 between last years gold close and where we are today.
Shouldn’t be a big surprise to anyone if we see the boyz attempt a waterfall decline. Hope not but always a possibility.
Now I gata a few XMas carolls for a few goldbugs who are getting heavier car parts for the same purilator charges…
For the missus winedoc…
This cumming from a treefrog.
He’s in the green part.