Newmont, Nevada Copper voice tax concerns
Apr 05, 2013 | 02:16 PM
| Suzy Waite
NEW YORK Newmont Mining Corp. and Nevada Copper Corp. have voiced concerns over how potential tax increases would hurt both the mining industry and Nevadas overall economic health.
The Nevada Senate voted April 1 to repeal tax protection for mining companies in the state. For a tax increase to be implemented, two-thirds of the legislature first need to approve the removal of the tax protection, and then the proposal has to be placed on the 2014 ballot.
In theory, this means tax increases wouldnt hit Nevada mining companies until 2015 at the earliest, Tim Dyhr, Nevada Copper vice president of environment and external relations, told AMM.
However, the senates vote has put both Vancouver, British Columbia-based Nevada Copper and Denver-based Newmont on alert. The companies, along with the Nevada Mining Association, are already meeting with state officials to try to ensure that the mining industry doesnt get slammed with tax increases.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.