Deductions for Mining & Petroleum Exploration Expenditure 15 March 2017 The Australian Taxation Office ("ATO") have recently issued Taxation Ruling TR 2017/1 to provide guidance on the application of both section 8-1 and section 40-730 of the Income Tax Assessment Act 1997 ("ITAA1997").
E xplorers in Africa ramped up their efforts in 2017 after four years of declining spending. Mining companies allocated almost US$1.1 billion to the Africa region for nonferrous metals exploration — an increase of almost 18% over the US$924 million budgeted in 2016, compared with a 14% increase in the global budget total.
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publication examines exploration data on thousands of mining companies around the world, including details on the scope and direction of exploration programs, current activities and strategic orientation. The study provides insight into how mining companies allocated their exploration spending by commodity, location, and stage of development.
Africa dropped from second place to a close third, trailing by a mere $4 million, with about 17% of worldwide exploration budgets; major African exploration destinations included Democratic Republic of Congo (DRC), Burkina Faso, South Africa, Zambia, and Ghana. A continued focus on West Africa (Burkina Faso in particular) caused gold to
PwC Corporate income taxes, mining royalties and other mining taxes—2012 update 4 Exploration costs are often subject to special rules regarding tax treatment and such rules vary widely by country. Argentina Mining Investment Law is taxpayer favourable toward exploration expenditures because Argentina grants an
Corporate History. Africa Oil Corp. was incorporated under the Company Act (British Columbia) on March 29, 1983 under the name "Canmex Minerals Corporation" with an authorized capital of 100,000,000 common shares. ... Marathon paid the company $32.0 million in consideration of past exploration expenditures, and has agreed to fund the Company's ...
Additionally, the South African government has expressed an intention to issue licences for the exploration of shale gas in the Karoo Basin, the largest potential reserve. 1.3 Regulatory environment South Africa has a number of government agencies and …
africa exploration expenditere - mrudvikahrconsultancy. De Beers to hold diamond exploration spend steady in 2017 -, Feb 6, 2017, [More info] Get Price. World gas and oil industry expenditure on . This statistic shows the capital expenditure on exploration and development by the world oil and gas industry in 2013, sorted by region. During this ...
exploration drilling, has shown that some of the greenstone belts are more extensive than was previously realised, especially the Ushirombo Belt in the area of Tanzanian Royalty's holdings. Tanzania is the 3rd largest gold producer in Africa, after South Africa and Ghana. This has been
in order to increase exploration expenditure' (Council for Geosciences, 2012). National subsidies There are a number of direct budgetary transfers that appear to benefit exploration activities in South Africa. CEF's budget includes an allocation of $36.8 million to …
Gold exploration spending is down in Australian, up in Africa... IS THE BOOM in exploration and capital spending on Aussie resources a sign of another top in the commodity cycle – or a sign of higher commodity prices to come? asks Dan Denning in Melbourne for the Australian Daily Reckoning.
Exploration expenditure. The investment in on-mine and near-mine based exploration over the reporting period totalled US$71.16 million. The US$ exploration spend again centered heavily on Australia (65 per cent) with South Africa (19 per cent), Ghana (15 per cent) and Peru (one per cent) accounting for the remainder.
Anadarko halts South Africa oil spending pending clarity on oil law Wednesday, 30 April 2014 George Obulutsa NAIROBI U.S. oil and gas explorer Anadarko Petroleum said it halted spending on exploration in South Africa until it has more clarity on changes in the petroleum law, which gives the state a 20 percent stake in new ventures.
Shell, the largest foreign investor in Nigeria, said in a statement to Reuters that it had completed an internal review of the OML 42 sale process and other deals Peter Robinson, a former vice president for sub-Saharan Africa, was involved in, and it concluded his only violation was related to OML 42.
South Africa region - Exploration drilling and expenditure. The current exploration strategy aims at matching the resource confidence level to the short, medium and long-term mine design and schedule. To this end, two distinct drilling programmes are utilised, namely:
Africa Oil Corp. has made numerous oil discoveries in the South Lokichar Basin (Blocks 10BB and 13T) located in the Tertiary Rift trend in Kenya. During the last three years, Africa Oil has focused primarily on exploration and appraisal activities in South Lokichar.
Expenditure on exploration activity in Africa has remained below USD5 per square kilometer relative to an average of USD65 per square meter in Canada, Australia and Latin America. Furthermore, most of the minerals produced in Africa are still exported without downstream processing, thereby reducing their potential value added.
European exploration of Africa began with the Greeks and Romans, who explored and settled in North Africa. Fifteenth century Portugal, especially under Henry the Navigator, probed along the West African coast.Scientific curiosity and Christian missionary spirit soon were subordinated to mercantile considerations, including lucrative trafficking in enslaved persons.