RE: article on Angle in Tanzania"Tanzania, which is Africa's fourth-largest gold producer, previously granted a tax holiday to mining companies that exempted them from paying corporate tax until they recouped investment costs in the mines"
The taxes don't need to be paid until all costs are recovered by the mining company like most other countries. The tax rate is still lower than the US that charges 35% corporate taxes. Tanzania is still ranked in the "A" class of african countries for investing in. It's only fair that the people of the country benefit from it's resources just like the US does, so I don't have a problem with paying corporate taxes once the rates are comparable to other countries. No body wants to steal the resources of a country as this would cause serious long term problems in the world. It's just a matter of time before all African countries and other countries (just look at Peru and Argentina recently) start changing their mining laws so don't be shocked. Mining companies understand that people of the countrie need to benefit from the wealth of the country, it's only fair -- once the corporate taxes are not taking away all the profits which it will never do otherwise all the mining companies will leave.