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POLICY AND LEGISLATION
INDIA/ORISSA -
Supreme Court clears mining projects
In a recent move, the Supreme Court cleared the mining projects of
Vedanta and Poscoe in the hills of Orissa.
These hills
are considered to be the "most bio diversity hot spots of the
Eastern Ghats" by
environment protection Group and the villagers consider these as
sacred. The
villagers consider any amount of compensation "worthless" and are
moving to use their
legal protection provided by the "Forest Rights Acts". Their efforts
got a boost from the recent visit of a
Congress Leader..
CANADA -
Lakes for tailing ponds
The reclassification of the Second Portage Lake for the Doris North
Project and the Baker Lake for the Meadowbank Project as tailing ponds
in the Canada Gazette brings to focus the need for awareness of the
local residents who feel the need to be educated by expert, professional
and unbiased information. There is a provision that a "habitat
compensation plan" provided by the mining companies is in place.
11082008
TANZANIA-Tax
regime, incentives and exemptions for mining
The panel appointed for reviewing the mining activities had suggested
increasing the taxes and reviewing the incentives in place. These
recommendations are statutory and need to be approved by parliament. The
budget
however included a 0.3 per cent Alternative Minimum Tax (AMT) of the
turnover for Corporate reporting losses for three years consecutively a
move that is considered an incentive to the growing mining industry.
DEMOCRATIC REPUBLIC OF CONGO
Policy on export of Cobalt concentrates Katanga Province
reiterates its policy enforcing ban on cobalt concentrates. The Country
has given time-bound permission for companies to develop facilities for
value addition within the Country.
