Miners Face Too Many Woes in Emerging Markets, Alamos Says
A copper plant. Panama’s tax dispute with First Quantum Minerals Ltd. over a giant copper mine underscores increasing political risks mining companies face in some regions, according to fellow Canadian metals producer Alamos Gold Inc.
Source: Bloomberg
Panama’s tax dispute with First Quantum Minerals Ltd. over a giant copper mine underscores increasing political risks mining companies face in some regions, according to fellow Canadian metals producer Alamos Gold Inc.
“There are too many difficulties in emerging markets right now,” Chief Executive Officer John McCluskey said in a Monday interview. “Something goes wrong, and the government decides it wants to jack up your tax rate, or just make an accusation that you suddenly owe $200 million or more in back taxes, or something along those lines. I mean, companies have faced that kind of thing.”