Candelaria Mining Corp T.CAN

Primary Symbol: V.CAND Alternate Symbol(s): CDELF

Metals & Mining Gold

Candelaria Mining Corp. is a Canada-based precious metals focused exploration and mining company. The Company is engaged in two gold projects in Mexico: the 100%-owned construction-ready high-grade Pinos gold project located in the state of Zacatecas, and the 100%-owned advanced-exploration stage Caballo Blanco project located in the state of Veracruz. The Pinos Project is situated in the central part of the Mexican Republic, adjacent to the municipality of Pinos, in the south-eastern portion of Zacatecas. The Project is approximately 80 kilometers (kms) west from the city of San Luis Potosi and approximately 140 kms east from Zacatecas, the State capital. It consists of around 3,816 hectares comprising over 29 concessions. The Caballo Blanco Project is situated on the eastern coast of Mexico in the state of Veracruz, around 65 km northwest of the city of Veracruz. It covers over 9,650 hectares (ha) comprising over 14 contiguous mining claims. Its subsidiary is Minera Apolo SA de CV.

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Candelaria Mining Corp > Tanzania Mulls Super Tax...

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Comment by easymoney77on Jun 08, 2011 4:46pm

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Post# 18689624

RE: RE: RE: RE: Tanzania Mulls Super Tax...

Rumours of Supertax in Tanzania Based on Erroneous Report
June 8, 2011, at 1:27 pm
by Jim Sinclair in the category General Editorial | Print This Post | Email This Post

Dear Friends,
Rumours of a supertax on minerals production in Tanzania are totally without merit and based upon a recommendation by a Uganda-based non-governmental organization that is not connected to the Tanzanian government in any way. It is the company’s understanding that no such supertax has been proposed in the latest budget tabled by the Tanzanian government. Tanzania’s mining industry has been the main engine of growth in the nation’s economy and it’s inconceivable that the government would do anything to jeopardize the economic viability of this important industry.
African Barrick Gold, a major gold producer in Tanzania, confirms that it is not aware of any supertax nor has the Tanzanian government or any industry association consulted it about the possibility of such a tax which would be normal practice.
Barrick and other major producers in Tanzania are generally subject to Mineral Development Agreements (MDAs) which guarantee tax and fiscal stabilization for a long-term mining project. AngloGold-Ashanti, another major gold producer in Tanzania, has also stated that it’s unaware of any such plan nor would it be impacted given the company’s previously negotiated tax agreements with the government.
Respectfully,
James E. Sinclair