South Africa may introduce "flow-through shares" to bolster flagging mining exploration, the chief economist at the Chamber of Mines told parliament on Wednesday.
The possible new rules would allow junior companies to issue shares which enable investors to get a tax deduction for the expenses of an exploration company.
Mining contributes about 6.2 percent to South Africa's gross domestic product, with export earnings generating some 145 billion rand to Africa's biggest economy.
But the sector is recovering from a rocky patch which saw investment in local mining decline despite a commodity boom and an increase in global exploration expenditure.
Read more at Reuters South Africa
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment