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Update 2 - Ghana puts plans for mining windfall tax on hold

Author: Matthew Mpoke Bigg, Reuters , Published on: 24 January 2014

Ghana has put on hold plans to introduce a windfall tax on mining profits, Finance Minister Seth Terkper [has said]... the decision comes after...companies warn[ed]...it would lead to job cuts due to a steep fall in gold prices... "They (mining firms) won't allow us to implement the windfall tax in our country," President John Mahama said at the World Economic Forum in Davos..."They threatened to lay off workers if we implement [it].... and because you need...jobs and you don't want workers laid off then you are coerced to go along," he said... Ghana Chamber of Mines[‘]...Toni Aubynn...said..."I don't think that[this] is the final death of windfall profit tax. If companies are making windfall profit it's only fair that they share that with stakeholders,"...[refers to AngloGold Ashanti, Newmont, Goldfields]

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Related companies: AngloGold Ashanti Ashanti Goldfields (see AngloGold Ashanti) Newmont