Gold Miners Agree to Pay Up to $100m in Taxes to Nevada

Source: Mineweb, Dorothy Kosich (2/25/10)

"Nevada miners still face an initiative process that seeks to remove mining taxation limits. . ."

Nevada gold miners have reportedly agreed to make a deal with the Nevada Legislature to pay from $75 million to $100 million to the state.

Assembly Majority Leader John Oceguera, D-Las Vegas, told the news media that the deal would involve mainly fees with a little from pre-payment of net proceeds of mines taxes.

State Budget Director Andrew Clinger told the Las Vegas Review Journal that if miners agree to pay $60 million in additional taxes, Gov. Jim Gibbons would withdraw his proposal to change and cap state mining tax deductions.

Sen. Dean Rhoads, R-Tuscarora, told the Review Journal mining company executives are willing to give the state $30 million to $40 million to help with the $900 million state budget deficit. He said mining is also willing to pay $60 million more to the state when they make their net proceeds of mines payments on March 1.

However, Nevada miners are still facing an initiative process that seeks to remove mining taxation limits from the state's constitution.

Announcing Streetwise Live! Events
Source: Streetwise Reports (07/13/2020)

Streetwise Reports is offering 100 investors—at no charge—the opportunity to meet via Zoom with executives of precious metals companies as they discuss recent developments at their companies and upcoming catalysts.

"China's export quota could be opportunity for Canadian miners"

Mexico: Gold's Next Powerhouse Player
Source: Marc Davis, BNW News (11/03/2009)

As the world's key gold producing nations struggle mostly in vain to replenish dwindling below-ground supplies, Mexico is bucking the trend in a big way.

Where Have All the Gold Mines Gone?
Source: Brent Cook, Exploration Insights (04/14/2009)

Given the declining global gold production, mining companies’ demand for reserve replacement and the acute dearth of new gold discoveries, there is no doubt that real economic discoveries will be exceptionally valuable. . .the opportunity for stellar profits is the best it has probably ever been. Identifying the few successes, however, will require vigilant and constant technical assessment of geology and drill results, always with an eye to mine economics.

Congo Completes Mining Review, Says Majors Quit Talks
Source: Reuters (12/20/2008)

"Review process is extended an additional 45 days to allow six companies to return to the negotiating table for direct talks with government ministers."