Taxonomy: Sector Affected - 16
Other minerals
Tunisia: Reduction of import duties on certain raw materials, equipment and other products
Description
On 21 December 2009, Tunisia issued the finance law 2010 (Loi no 2009-71) that introduces reductions of import duties on certain raw materials, equipment and other products.
The law entered into force as from 1 January 2010.
The Custom Union of Russia, Belarus and Kazakhstan
Description
The Customs Union (hereinafter – CU) was established between Belarus, Kazakhstan and Russia on the basis of the Eurasian economic community (EurAsEC) and is based on a system of treaties between or with participation of CU member
Canada: Elimination of import tariffs on all manufacturing inputs, machinery and equipment
Description
As an accompanying measure to its 2010 budget, the Canadian government announced on 9 March 2010 that it intends to eliminate all remaining tariffs on manufacturing inputs and machinery and equipment in the near future.
Venezuela: Devaluation of the Bolivar
Description
On 8 January 2010, the Venezuelan government announced the devaluation of the Bolivar. Instead of the existing fixed exchange rate at 2.15 Bs/US Dollar, the government now operates a two-tier system.
Kazakhstan: Local content in subsoil sector
Description
Kazakhstan introduced a local content requirement into the terms of subsoil use contracts.
Ghana: Reduction in mining royalty rate to 5%
Description
The government of Ghana has reduced the mining royalty rate to 5% eventhough it had earlier on in the 2010 budget statement proposed an increase in the rate ranging from 3% to 6%.
Nigeria: Deliberate devaluation of the Naira
Description
According to numerous and consistent press reports, the Central Bank of Nigeria has deliberately devalued the local currency at the end of 2008.
Nigeria: Preference to local companies in new oil industry law
Description
The Nigerian Oil and Gas Industry Content Development Bill (2010) has been signed into law by the acting president Goodluck Jonathan.
Belgium: Interest rate subsidies and guarantees for primary producers hit by the financial crisis
Description
By notification of 22 January 2010, the Belgian authorities notified a temporary aid scheme for granting limited amounts of compatible aid under the Temporary Framework for State aid measures to support access to finance in the current financial a
South Africa: New royalties law to take effect on 1 March 2010
Description
The Minerals and Petroleum Resources Royalty Act, 2008, is to take effect from 1 March 2010. The introduction of the new law was postponed for a year to give mining companies a rest from the global recession.
