Rio Alto Mining Limited RIOAF

Humala update........

[Kewl2]

Humala seeks to reassure Peru mining companies on tax

https://af.reuters.com/article/metalsNews/idAFN0717917220110608?sp=true

Wed Jun 8, 2011 12:13am GMT
Print | Single Page[-] Text [+] * Humala says will not impose new tax unilaterally
* Southern Copper reviewing $2 billion investments

* Xstrata, Buenaventura affirm $8.7 billion in projects

By Teresa Cespedes and Patricia Velez

LIMA, June 7 (Reuters) - Leftist President-elect Ollanta Humala tried to soothe fears of companies in Peru's vast mining sector on Tuesday, saying he would negotiate taxing their windfall profits instead of imposing a new levy unilaterally.

Humala, a former army officer who narrowly beat right-wing lawmaker Keiko Fujimori in Sunday's vote, has ditched his most radical proposals since losing the 2006 election and recast himself as a conciliatory leader.

But he says mining companies whose profits have swollen on lofty global commodities prices should fund social programs in a country where a third of people are poor despite a decade-long economic boom.

"In principle there was a political consensus during the campaign to charge a windfall profits tax on miners," he told Reuters in an interview. "The tax rate we need to talk about with companies, taking their profit margins into account."

more at above.............

[alank1]

for the optimistic rio holdres let me tell you that the new president humala has already tell that he will put and extra tax that will rise the income tax for the miners from 30% to a range between 40% to 50% and the other taxes of exploration like the "canon minero" will be raise too, so please make your new cash flow and make the correct disscount and you can have the new npv of rio.

[skier59]

Seeing how important mining and foreign investment are to the Peruvian ecomony, I highly doubt Humala will impose a tax system which will alienate investors. Why don't you alank come out and show all of us how smart you really think you are and throw down those numbers. I've read posts where you have said the SP was going to be $1 $1.20 - $1.30 and $1.40.RIO is a producer now and if you

[alank1]

did you see the declaration of javier diez canceco a congressman from ollanta humala party, on monday he propposed on tv this ranges of income on tax, so dont tell me that i don't know anything, you should see some of the politics that the bolivian goverment took on international investment, what makes you think humala will be a pro investment president if the last 5 years he told that mining

[alank1]

one more thing why don't they sale their shares? because like in the last military goverment in peru no one was expecting a statisation of the resources from one day to another but that what it happen and they didn't sell because they couldn't the state took full control like in other american companies that were stablished in peru

[thebaker]

alank, it has been a week since the election. We are a long way from $1.20, $1.30, or $1.40, whichever one it was you were going to buy in at. What is your explanation this week?

[fleeinggrandich]

alank, it has been a week since the election. We are a long way from$1.20, $1.30, or $1.40, whichever one it was you were going to buy inat. What is your explanation this week?Yeah....Don't even waste your time with that little pecker.