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Currently the gold mining industry is taxed differently to other industries. It is taxed on a two-tier system. The nature of the gold mining tax formula encourages the mining of marginal gold ores. Firms that are involved in the mining of gold are subjected to a "tax tunnel", which is a tax free revenue portion. This is against the equity principle of taxation because it separates companies on the basis of what they produce and not on the basis of income generated. The South African government is in the process of implementing a revenue-based royalty system. The majority of firms in the gold mining industry feel that for the benefit of economic growth the government must consider implementing a profit-based royalty system. This study analyses the gold mining tax formula in comparison to the flat rate tax. It also analyses the reasons for the differential treatment of the gold mining industry. / Economics / M.Comm.

Currently the gold mining industry is taxed differently to other industries. It is taxed on a two-tier system. The nature of the gold mining tax formula encourages the mining of marginal gold ores. Firms that are involved in the mining of gold are subjected to a "tax tunnel", which is a tax free revenue portion. This is against the equity principle of taxation because it separates companies on the basis of what they produce and not on the basis of income generated. The South African government is in the process of implementing a revenue-based royalty system. The majority of firms in the gold mining industry feel that for the benefit of economic growth the government must consider implementing a profit-based royalty system. This study analyses the gold mining tax formula in comparison to the flat rate tax. It also analyses the reasons for the differential treatment of the gold mining industry. / Economics / M.Comm.

The promulgation of the Mineral and Petroleum Resources Development Act 28 of 2002 (MPRDA) led to a significant increase in the number of junior exploration companies. In this regard, International Financial Reporting Standard (IFRS) 6 allows companies to develop their own accounting policies for exploration and evaluation expenditure. However, there is no definition of either prospecting or exploration in the Income Tax Act 58 of 1962 (Income Tax Act). The objective of this study was to perform a literature review and to carry out empirical research by using questionnaires that were distributed to junior exploration companies to investigate whether accounting and taxation practices are consistently applied. Accordingly, the findings confirmed that the accounting and taxation practices followed by junior exploration companies are not consistently applied. / Financial Accounting / M.Com. (Accounting)

The promulgation of the Mineral and Petroleum Resources Development Act 28 of 2002 (MPRDA) led to a significant increase in the number of junior exploration companies. In this regard, International Financial Reporting Standard (IFRS) 6 allows companies to develop their own accounting policies for exploration and evaluation expenditure. However, there is no definition of either prospecting or exploration in the Income Tax Act 58 of 1962 (Income Tax Act). The objective of this study was to perform a literature review and to carry out empirical research by using questionnaires that were distributed to junior exploration companies to investigate whether accounting and taxation practices are consistently applied. Accordingly, the findings confirmed that the accounting and taxation practices followed by junior exploration companies are not consistently applied. / Financial Accounting / M.Com. (Accounting)

Este artículo describe y analiza los procesos de cambio en la políticadel distrito de San Marcos (Huari, Ancash) asociados con lallegada del canon minero —fracción del impuesto a renta pagadopor Antamina— que incrementó súbita y espectacularmente las arcasmunicipales de modo que San Marcos es hoy uno de los distritos másricos del Perú. El texto analiza estos cambios prestando atención alas elecciones municipales de 2006 y a la implementación del PlanPiloto de Mantenimiento de la Infraestructura Pública, que consisteen un programa de empleo temporal. Este último es clave para unanovedosa alianza entre el municipio y los sectores rurales, en particularel llamado Cono Sur, tradicionalmente ausente como actorpolítico importante en el distrito. La política distrital ha dejado deestar dominada por la pugna entre las dos facciones de familias exhacendadas para articularse en una oposición entre los caseríosrurales y el pueblo de San Marcos. La política local ha pasado degirar en torno a Antamina hacia acusaciones, debates y pugnasalrededor de la administración municipal del canon minero. No obstante,las comunidades campesinas que tienen una relación directa con Antamina continúan siendo actores políticos independientes delmunicipio y tienen un peso importante en el distrito. / This paper describes and analyses the changes in local politicstaken place in the district of San Marcos (Huari, Ancash) associatedwith the arrival of the Canon Minero – a fraction of taxes paid byAntamina mining company to the Peruvian State. Canon Minero hasincreased sudden and spectacularly the municipality’s funds so muchthat currently San Marcos in «ones of the Peruvian richest districts».The paper pays attention to the municipal elections of 2006 and theimplementation of the Plan Piloto de Mantenimiento de la InfraestructuraPública, a program of temporary work for all San Marcos’citizens. The latter was key for launching a novel alliance betweenthe municipality and the rural population, particularly with the ConoSur composed by hamlets which were traditionally unimportantactors in district politics. Hence, district politics had stopped to bedominated by the struggle between two factions of former landlordfamilies and had become articulated by the opposition between therural hamlets and the town of San Marcos with the emergence ofethnic political claims. Also, local politics ceased to revolve aroundAntamina and has become entangled with struggles over the administrationof Canon Minero. Rural communities which have directnegotiations with Antamina remain important political actors whichare independent from the municipality and are even oppose to it.

Dans un contexte de libéralisation globale de l'économie, la majorité des pays en développement ont, à partir des années 1980-1990, réformé leur législation minière dans le but d'attirer les capitaux étrangers. La Guinée, avec des ressources minérales potentielles estimées à plus de 45 milliards de tonnes, est considérée comme l'un des pays disposant du sous-sol le plus riche en Afrique. Conscient d'un tel potentiel pour le développement du pays, le législateur guinéen adopte, en 1995, un nouveau code minier pour rendre le territoire attractif pour les investisseurs privés étrangers. Cependant, avec l'avènement du concept de développement durable, comme l'un des nouveaux défis mondiaux, de nombreuses réglementations minières ont progressivement été modifiées pour s'adapter à ce dernier. La Guinée, une fois de plus, n'a pas échappé à cette tendance, en adoptant un nouveau code minier en 2011. Ce dernier est la conséquence d'une mobilisation sociale sans précédent dans le pays, ayant débutée dans la moitié des années 2000 et visant à dénoncer l'absence de retombées économiques et financières, issues du secteur minier, pour l'État et la population. Néanmoins, peu de temps après sa promulgation, cette nouvelle législation minière a suscité de vives critiques de la part des compagnies minières. Le gouvernement, prenant en compte ces recommandations, s'est donc engagé dans un processus d'amendement de certaines dispositions du code de 2011, qui s'est achevé par l'adoption d'une nouvelle loi minière en avril 2013. Par conséquent, ce travail a pour objectif d'analyser de quelle manière la réglementation minière en Guinée (2011 et 2013) prend en compte les meilleures pratiques internationales actuelles en matière d'attractivité et de développement durable. Pour ce faire, des comparaisons sont réalisées, à la fois avec le code minier de 1995, pour donner une dimension évolutive à cette étude, ainsi qu'avec les législations minières d'autres États dans le monde. / In the context of a general liberalisation of the economy, the majority of developing countries have since the years 1980-1990 reformed their mining legislation in order to attract foreign capital. Guinea, with its potential mineral resources estimated at more than 45 billion tons, is considered to be one of the African countries with the richest subsoil. Conscious of such potential for the development of the country, the legislature in Guinea adopted, in 1995, a new Mining Code in order to make the Guinean territory more attractive to foreign private investors. However, with the arrival of the concept of sustainable development as one of the new global challenges, numerous mining regulations have been progressively modified in order to adapt. Guinea, once again, did not escape this trend and adopted a new Mining Code in 2011. This code is the consequence of a social mobilization without precedent in the country, which started in the first half of the 2000s. Its goal was to denounce the absence of economic and financial repercussions born from the mining sector on the Government and the population. Nevertheless, not long after its promulgation, this new legislation was the subject of harsh criticism from mining companies. The government, taking into account its recommendations, undertook the process of amending certain dispositions of the Mining Code of 2011, which resulted in the passage of a new Mining Law in April of 2013. Consequently, this work will analyze how mining regulation in Guinea (of 2011 and 2013) takes into account current international best practice in terms of attractiveness and sustainable development. In order to do so, comparisons will be made with the Mining Code of 1995 in order to give an evolutionary dimension to this study, as well as with Mining Regulations from other countries in the world.