South African Countries Impose 26 Percent Tax on Mining Companies

Posted by info
June 12, 2008 |
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Mr.Ndumiso Ndima Ntshinga, Ambassador Extraordinary Plenipotentiary of South Africa to Mongolia held a press conference on occasion of the liberty day of South Africa. Liberty day is celebrated on June 11 of each year and this year is the 40th anniversary. The 15th anniversary of diplomatic relations between Mongolia and South African countries shall happen next year.
“It’s been 100 years since mining sector developed in our country. In Mongolia too mining sector develops rapidly. In our country all mining companies are private companies and they engage in deep mining. Since some of them run mining at 5000m depth they ensure their security and safety very well. There are a lot of things that Mongolia could benefit as experiences so we must collaborate.
Since economies of both countries are dependent upon foreign countries, we are very vulnerable and we have to find solutions to get away from such situations together,” says Ambassador. South African countries take 26 percent tax from mining companies.

Business, Economy, Government, Mining, Politics

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