Tax Hike On Talc In 2012
Beijing: This year, the largest producer of metals and minerals is facing strict limitations in production as well as exports. China, in 2012, is witnessing a tax hike in six minerals as well as on various raw metals that are widely used in the manufacture of metal products. The Chinese government has raised the mining tax on minerals including talc, manganese, boron, borates, and two others.
The largest supplier of manganese
and talc and a leading producer of borate minerals has hiked tax rates this year, a step that may lead to a fall in the ranking of China as a global metal and mineral provider. The Shanghai Securities News reports that the increases in tax also apply to metals such as tin, iron and molybdenum. This announcement was made by the Ministry of Finance and the State Administration of Taxation.
The resource tax has been increased to renminbi (Rmb) 20/tonne for talc
and boron, which is $3.18 per tonne, while that for manganese was hiked to Rmb 15/tonne that calculates to $2.38 per tonne. The rise in taxes will have an adverse effect on its demand and a direct negative impact on manufacture of consumer goods that are produced using such minerals and metals.
Canada: The metal products mining company, North Bay Resources Inc., with more than 150 mines totaling 60,000 acres in Canada and British Columbia, have acquired another property next to their Zippa Mountain Wollastonite property, called the Raven Gold property, located in the northwestern British Columbia, in the Golden Triangle
Oxford: The ball bearings manufacturer, RBC Bearings, was given a 5-star rating based on the 180,000 investors participating in the Motley Fool CAPS, a free investing community. All the 125 members who rate the ball bearings company believed that the RBC stocks will outperform in the S&P 500
USA: According to the Standard and Poor’s GSCI Spot Index, the price of 24 raw metals fell drastically this year, a sign that the global economic slowdown is lessening the demand for raw metals and metal products. The index shows that the price fell by almost 1.5 percent
Chile: In a bid to produce and promote the use of clean copper energy in Chile, Xstrata Copper has partnered with Origin Energy Limited whereby by Origin Energy will have 51% stake in Xstrata Copper’s Energia Austral hydroelectric development company, located in Chile. Origin Energy has the experience and expertise track record
United States: FashionSeating.com has recently introduced metal products in form of metal seating options for various markets. These seatings are made of solid metal bars to give them both durability and modish look. The collection is available online at the company’s retail website
United States: Even though the metal product manufacturing industry has shown some signs of improvement, it has not yet become stable. The demand for galvanized steel and steel metal sheets is still extremely poor. The setback that the residential and commercial construction sectors have been facing is largely due to the lull
Europe: There are times when history jumps out from the past and lands up in the present only to strengthen certain thoughts and concepts. People who think that the use of metals and metal products are a new find think again. Archaeologists have found a trading vessel which dates back 5000 years and it contains a large valuable
Florida: The independent Feasibility study has revealed the mineral reserve estimate of gold tubes at the North-Eastern Kazakhstan Kyzyl Gold Project at 5.76 million ounces. The result was announced by the Ivanhoe Mines Founder and Chief Executive Officer, Robert Friedland and the Altynalmas Gold Chairman
Washington: With many innovations and a lot of research going on in the metal products’ industry, chain link manufacturers and sellers have also come up with a variety of ways for keeping their products in demand. Hercules, a master manufacturer of chain links and chain link fencing, has done an outstanding job
Nigeria: The economy of any country flourishes with its development in the metals and minerals industry. Previously, this experience was lacking in Nigeria, which is why the country had to suffer tremendous economic setback. In the recent times, Nigeria could not live up to its full potential of processing and creating metal products