InvestorDaily’s Post

Australian 2024 Budget - the things that have jumped out at me in the last 15 minutes: This is kind of all that matters: *Page 53 Statement 2: Economic Outlook - Aus gov expecting iron ore price to decline to US$60/tn in 2025 (!) *Page 53 Statement 2: Economic Outlook - Mining investment to fall -3.5% in 2024-2025 *Commonwealth Rent Assistance up 10% from Sep 2024 *Lowered foreign investment fees for build to rent developments + "tax incentives" (that will work!) *$31.60 cap on PBS meds from next year https://lnkd.in/gxwdp5rq

The U.S. Department of Treasury recently released its final rules for the advanced manufacturing production credit under Section 45X of the Internal Revenue Code, enacted as part of the Inflation Reduction Act (IRA) of 2022. U.S. mineral processors with accompanying mining operations at home or abroad are now well-positioned to benefit from previously inaccessible Section 45X credits. The credit comes at an opportune time, as mineral projects face challenging market conditions and intense Chinese competition threatening projects’ economic viability and American jobs. Catch up on our analysis of the final ruling here: https://lnkd.in/eQSyrp6g

According to the Budget Office of the Federation, the FGN’s aggregate revenue settled at N8.65trn in 9M 2023, higher than the pro-rated budget of N8.28trn for (Jan-Sept). The FGN retained revenues also outperformed the pro-rated budget by +10.56% at N7.15trn for 9M 2023, driven by the significant rise in grants and donor funding (N1.04trn actual vs N32.27bn pro-prated), +35.05% overperformance of the non-oil revenue and minerals & mining revenue outperformed by +62.64% at N4.44bn vs N2.73bn pro-rated revenue. https://lnkd.in/dc9uU86q

Mongolia, which Fitch Ratings affirmed at 'B' with Stable Outlook on 2 February 2024, is undergoing a mining revenue boom that has lifted government revenue and foreign reserves, enabling sharp declines in debt. If sustained and prudently managed, the commodity windfall could lead to improvements in its ‘B’ rating. Read more: https://ow.ly/k2NE50R6cQj #asiapacific #mongolia #commodities #sovereigns #economy

A new report has found that Australia’s mining companies paid $74 billion in taxes and royalties in the 2022-23 financial year. Should you have any questions, please feel free to reach us on 02 92213345 or info@pittmartingroup.com.au. #pittmartingroup #australiaeconomy #miningsector #tax #royalties #MCA #highestaveragewage #economicbackbone #draconian #environment #taxagent #enjoywhatwedo

It recommended the National Board of Revenue (NBR) discontinue the tax holiday for the information and communication technology industry and abolish the tax benefit for mining and petroleum extracting companies. #bangladesh #businessnews #economy

https://lnkd.in/g9fxPUsv. JT, Canada is reasonably wealthy by world's standards due to mining and oil/gas. The very sectors you are trying to destroy. Call that a clue.

Despite economic recovery effort the economic growth remains dim with GDP decelerating to 4.6% compared to 5.6% same Quarter last year. The deceleration was widespread across nearly all sectors, with the mining and construction industries being hardest hit, contracting by 2.7% and 2.4% respectively. Despite this, there is sign of stabilization. There is also need to review the immediate impact of government policies and attract investment in the growth areas to spur recovery.

In 2014, Ukraine needed a loan. There were two offers: 🔴The World Bank (IMF) offered $15 billion with two conditions: -Lift the ban on private sector land ownership. -Cut pensions and fuel subsidies. 🔴Russia also offered $15 billion, but WITHOUT the austerity and privatization requirement. Ukrainian President Yanukovych decided to chose Russia's offer, so Washington instigated a coup, ousting Yanukovych. The new Ukrainian government accepted the IMF loan and conditions: austerity and privatization Multinational consortia with US capital have already bought 1/3 of Ukraine's land... https://lnkd.in/dqkyY9cf

From the Mining Chapter of 'The Report: Ghana 2024': As Africa’s leading producer of gold, the mining sector accounts for a significant portion of the economy. The sector is also a major employer, as it is composed of large-scale mining outfits, and artisanal and small-scale operators. In 2023 the government began to implement reforms on raw materials exports to support in-country, higher-value processing and manufacturing. While the coming years are likely to see a greater focus on downstream activities, traditional segments such as gold are expected to continue to grow, pushing total production upwards. The expansion of the sector is also set to further boost Ghana’s attractiveness for potential investors. This chapter contains interviews with Samuel Jinapor, Minister of Lands and Natural Resources; Edward Koranteng, CEO, Minerals Income Investment Fund; David Anthony, President and CEO, Asante Gold; and Joshua Mortoti, Executive Vice-President and Head of West Africa, Gold Fields. You can view the Country Report here:  https://lnkd.in/dxdcnj2A