DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/e10e46/angola_mining_repo) has announced the addition of the "Angola Mining Report Q1 2011" report to their offering.
The Angola Mining Report provides industry professionals and strategists, corporate analysts, mining associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Angola's mining industry.
It seems increasingly likely that 2010 will end without Angola having adopted a new Mining Code, which had been expected during the year. The most recent commentary surrounding the code came from the Reuters newswires during June 2010, when a report stated that the new law will toughen up regulations on how diamond miners can distribute their revenues generated from projects being conducted within Angola.
According to an official from state-run diamond concern Endiama, the new law is reportedly looking to compel diamond miners to use 50% of their revenues to pay for operational costs, with the other 50% used to pay taxes and investors and also to develop the local community. At present, the only stipulation set out in the existing Mining Code is the need for all mining companies operating in Angola to pay a 35% profit tax to Endiama.
Elsewhere, there have been other local media reports stating that the revised mining code is also expected to compel miners to present environmental impact assessments (EIAs) before new mining projects are approved by Luanda.
As ever, BMI will monitor the situation on the ground and will report on the details of the new Mining Code as soon as they are made public. The new code is expected to refresh existing mining regulation dating from 1992, which then minister of geology and mining Mankenda Ambroise claimed in 2009 was inappropriate to the current situation within the country. Efforts to draft a new mining law have been ongoing since 2006.
Key Topics Covered:
- Executive Summary
- Global Mining Outlook
- Industry Trends And Developments
- Business Environment
- Political Environment
- Commodities Forecast Scenario
- Competitive Landscape
- Global Assumptions Q1 2011
- Country Snapshot: Angola Demographic Data
- Section 1: Population
- Section 2: Education And Healthcare
Companies Mentioned:
- Endiama (Empresa Nacional de Diamantes de Angola)
- Sociedade Mineira de Catoca
- Sociedade de Desenvolvimento Mineiro
- ITM Mining
For more information visit http://www.researchandmarkets.com/research/e10e46/angola_mining_repo.