Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Orvana Minerals Corp T.ORV

Alternate Symbol(s):  ORVMF

Orvana Minerals Corp. is a multi-mine gold-copper-silver company. It is involved in the evaluation, development and mining of precious and base metal deposits. Its assets consist of the producing El Valle and Carles gold-copper-silver mines in northern Spain, the Don Mario gold-silver property in Bolivia, and the Taguas property located in Argentina. The El Valle and Carles mines and the El Valle processing plant are a producer of copper concentrate and dore. El Valle is located in Asturias, Northern Spain. The Don Mario Operation is in San Jose de Chiquitos, Southeastern Bolivia. The Don Mario Operation consists of a set of assets that includes Las Tojas orebody, and the previously mined out lower mineralized zone, upper mineralized zone and Cerro Felix mines. The Taguas Property consists of 15 mining concessions over an area of 3,273.87 hectares, held and managed by its subsidiary Orvana Argentina S.A. Taguas is located in the province of San Juan, on the eastern flank of the Andes.


TSX:ORV - Post by User

Bullboard Posts
Comment by geezer321on Apr 11, 2013 12:18pm
101 Views
Post# 21242105

RE: This might be more worrisome!

RE: This might be more worrisome!
Google Translation:
 
The mining companies should pay more for onward tax transfers abroad, the rate will rise from 12.5% ??to 25%, as proposed in the latest draft of the new Mining Law.

"A tax on remittances abroad equivalent to 25% of the total" in Article 193 of the project, which was seen Page Seven.

In Point II, the proposal further specifies that "mineral exports from Bolivia whose sale value not enter a bank or financial Bolivian pay 25% of the total amount of capital exported concept".

The tax is intended to tax capital firms abroad to repatriate their headquarters and are from mining operations in the country.

That is, if the total amount of exports of a mining operator is the equivalent of a million dollars, it should give the state $ 250,000 in tax that obligation.

The mining expert Rolando Jordan said that this measure is all that away cause investments to the country.

"It is true that Bolivia has one of the lowest taxes in Latin America about the remittance of profits abroad, but should not be taken in isolation only remission, but we also must consider the Income Tax Companies (IUE ), "he said.

The optimum may be as well to raise the tax on transfers abroad, to decrease the rate of SUI (mining companies are taxed 37.5%), so that the competitiveness of Bolivia is maintained or increased in order to attract investment he specified.

With the new provision the companies most affected are San Cristobal, which has capital of Japan-and Orvana mining, San Vicente and Manquiri-operate with resources all Canadian investors.

Secretary of Mines of the Government of Potosí, Arnulfo Gutierrez, noted that at this time the State and mineral producing regions perceive good income by mining, by private operators and cooperatives, and should ensure safety.

"What the state should do is respect the concession contracts and give legal certainty, that must be consolidated in the new standard," he said.

Participation

The draft law also consolidates greater future participation in profits Comibol. "In the state association contracts that are signed after the enactment of this Act, the shares shall be agreed between the parties and in any case involving the state company will be less than 55% of the profits of private," says Article 120.

Last week, the legal adviser to the Ministry of Mines, Juan Carlos Carrasco, once confirmed approval of the new mining law, operators will be only 45% of the profits and Comibol with the remaining 55% of Under the new contract includes the standard association.

The project is discussed by a committee led by the Ministry of Mines, in which representatives of private mining, cooperative and Comibol.

These actors miners met again yesterday to agree, modify and adjust the content to be ready until April 6.

Carrasco said the previous week that the new rule is an increase of 90% and that is pending mining royalty.

However, miners actors involved in the drafting said that while there is consensus in drafting the document, agreeing the neuralgic lack of content of the law, which is the payment of taxes and royalties. At the moment, the intention is not undergo any change in the aliquots.
Page Seven

 

Bullboard Posts