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Gold Fields troubled by Ghana tax hike

Dec 05 2011 10:05
Reuters

Company Data

GOLD FIELDS LIMITED [JSE:GFI]

Last traded 69
Change 7
% Change 11
Cumulative volume 3143931
Market cap 0

Last Updated: 08-02-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Gold Fields [JSE:GFI] chief executive Nick Holland said on Monday he was concerned about Ghana’s move to increase corporate taxes on the mining sector to 35% from 25%.

“It is a source of deep concern to us,” Holland said in a presentation to analysts.

In 2010 about 20% of the group’s production of around 3.5 million ounces came from Ghana and that percentage is rising as it has since bought out minority stakes in its operations there.

Gold Fields is the world’s fourth largest gold producer.

 
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