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GOXI's Blog – May 2011 Archive (11)

European Investment Bank urged to halt direct investment into mining in Africa

A ban on the government financing of mining activities has been called for in Europe, following allegations of gross tax evasion by resource sector operators in Africa.

Fifty members of the European Parliament have signed an open letter to the EU president and the European Commission, calling for a temporary suspension on all government financing of international mining projects. The moratorium is to be upheld until adequate standards can be put in…

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Added by GOXI on May 26, 2011 at 13:30 — No Comments

India battles China to tie up African mineral wealth - Mineweb

MUMBAI - 

China may have surpassed India as the world's largest investment market in terms of gold purchases, but India is not going to let its Asian neighbour win another round in Africa's mining sector without a fight.



The…

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Added by GOXI on May 26, 2011 at 4:51 — No Comments

Ministers to consider ECOWAS mineral development policy in Accra

Abuja - Nigeria — ECOWAS Ministers in-charge of Mineral Resource Development will hold their 3rd meeting in Accra, Ghana on 3rd June 2011 to consider among others, the Draft ECOWAS Mineral Development Policy and the Terms of Reference on the ECOWAS Mining and Oil Forum (ECOMOF).

The ministerial session will also consider the recommendations of the preceding National Experts Workshop/ Ad-hoc Committee meetings starting 26 May 2011 also in Accra on the same agenda topics. Participants…

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Added by GOXI on May 25, 2011 at 14:21 — No Comments

Rio's $657m payment to Guinea government faces scrutiny - The Australian

THE end use of a $US700 million ($657m) payment Rio Tinto has made to the Guinea government will be independently audited but is expected to face increased scrutiny as British and US regulators toughen their stances on companies operating in other nations.

It is understood the recently elected Guinea government has indicated to Rio that the money will go to a national emergency plan designed to improve water, electricity, food security and education.

It is also…

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Added by GOXI on May 23, 2011 at 17:38 — No Comments

Tullow Oil becomes EITI supporter

The EITI is pleased to welcome Tullow Oil as the latest EITI Supporting Company. Tullow is actively involved in EITI implementation processes in several countries in which it operates including Ghana, Mauritania, Gabon and, until recently,…

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Added by GOXI on May 20, 2011 at 14:11 — No Comments

Namibia looking to impose windfall tax on miners - Reuters

By Servaas van den Bosch



WINDHOEK (Reuters) - Namibia is looking to introduce a minerals windfall tax to enable the state to benefit more from the country's vast mineral…

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Added by GOXI on May 20, 2011 at 14:00 — No Comments

Newcrest Mining set to resume production at Ivory Coast mine - Dow Jones

MELBOURNE -(Dow Jones)- Newcrest …

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Added by GOXI on May 20, 2011 at 13:59 — No Comments

African Barrick says 7 killed in attack on mine - Reuters

By Fumbuka Ng'wanakilala and Julie Crust

 …

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Added by GOXI on May 20, 2011 at 13:00 — No Comments

Zimbabwe: Lawyer challenges Empowerment Act - The Standard

BY KUDZAI CHIMHANGWA



THE controversial Indigenisation and Economic Empowerment Act is riddled with loopholes and can be successfully challenged on the grounds that it is discriminatory, a prominent lawyer has said. 

Stanford Moyo, the former president of the Law Society of Zimbabwe told a workshop…

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Added by GOXI on May 20, 2011 at 13:00 — No Comments

Namibia: Minister clarifies proposed minerals policy - Namibia Economist

By David Adetona

 

The Minister of Mines and Energy, Isak Katali, this week tried to ease tension in the mining sector after a number of mining companies raised their concerns over government’s recent announcement that the state-owned mining company, Epangelo, will now hold exclusive exploration and mining rights to uranium, gold, copper, coal, diamonds and rare earth metals, which was declared as “strategic minerals.”



“To implement the government decision, a change…

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Added by GOXI on May 13, 2011 at 12:54 — 3 Comments

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