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Chamber of Mines proposes sliding royalty of 4%-8%, removal of GSL amid high gold prices
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News – MyJoyOnline
“You see, eating on a constant and continual basis is better than eating one large meal once,” he said.
Mr Ashigbey explained that the proposal followed government’s draft legislative instrument on mining royalties.
The Chamber’s counter-proposal seeks to replace the current structure with a flexible royalty system that adjusts to market conditions.
The Chamber has also proposed an additional one per cent contribution from net profits to support development in mining communities.
“When you compute royalties, it is the price times your volumes times the royalty,” he said.