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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: Metacomet	6/20/2006 11:52:52 AM
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How to Destroy Mongolian Mining "The Mongolian state on May 12th imposed what it has termed a "windfall profits" tax on mining carried out in that country. The law constitutes a 68% tax on profits from mineral sales when the copper and gold price are above US$1.18 a pound and US$500 per ounce respectively. This tax is so punitive that its imposition is tantamount to nationalization. Regardless of its intention, the new tax will destroy investment in mineral exploration and development in Mongolia. It caused investor concern and net selling of Ivanhoe Mines Ltd. ("Ivanhoe"), a Canadian firm listed on the Toronto, New York, and NASDAQ stock exchanges, which has found and developed a large resource of copper and gold in the remote hinterland of Mongolia...." mises.org

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