Resolute Mining tax dropped to 25% & 10-year mine ext’ by local Govt

Company News

by Jessica Amir

Gold producer, Resolute Mining (ASX:RSG) has been granted a further 10 year extension to Syama Gold Mine's mining permit. 

It comes as the gold producer and the Mali Government agreed to a new Mining Convention which establishes bolstered fiscal and operating conditions for the mine.

The new convention guarantees a 10 per cent reduction on the previous income tax rate of 35 per cent, dropping it to 25 per cent.

The company is also set to benefit from other new concessions and guarantees, including the exemption from Malian customs duty on the importation of fuel.

Shares in Resolute Mining (ASX:RSG) closed 2.92 per cent lower at $1.17 yesterday.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.