Gold Fields Says Ghana Tax Plan May Halt $1 Billion Projects
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Gold Fields Ltd., the fourth-biggest producer of the metal, said Ghana’s plan to raise tariffs on mines and introduce a windfall tax could force it to halt expansion projects worth $1 billion in the country.
“The tax situation is a big concern,” Chief Executive Officer Nick Holland said at a presentation in Johannesburg today. “Frankly, unless we can see some flexibility on tax, I don’t see the projects built as proposed, if at all,” he said, referring to plans to expand the Damang and Tarkwa mines.