Fiscal Policies For Mining (Gold) In The Pacific Islands
This report develops a model to evaluate and formulate policy measures for the mineral (gold) sector and examines some issues which may be significant from the perspective of the government decision makers in resource rich developing countries. An appraisal methodology is outlined for financial, economic and social analysis of a mining project and detailed guidelines are presented for applying it. Techniques for computing some important parameters are also laid down. For the sake of illustration, the methodology is then applied to data for the ‘Misima’ mine in Papua New Guinea. An examination is carried out of the impact of royalties on high grading, the significance of particular debt-equity ratios from the points of view of both the firm’s earnings and the government revenue and the effects of domestic and world inflation rates.
|Date of creation:||Mar 1990|
|Date of revision:|
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- Garnaut, Ross & Clunies-Ross, Anthony, 1983. "Taxation of Mineral Rents," OUP Catalogue, Oxford University Press, edition 1, number 9780198284543, December.
- Glenn Jenkins, 1986. "Taxation Of State-Owned Enterprises," Development Discussion Papers 1986-01, JDI Executive Programs.
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- Harberger, Arnold C, 1978.
"On the Use of Distributional Weights in Social Cost-Benefit Analysis,"
Journal of Political Economy,
University of Chicago Press, vol. 86(2), pages S87-120, April.
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- Robert Conrad & Malcolm Gillis & Glenn Jenkins, 1980. "Taxation And The Development Of The Mining Sector In Developing Countries," Development Discussion Papers 1980-12, JDI Executive Programs.
- Glenn Jenkins, 1977. "Inflation - Its Financial Impact On Business In Canada," Development Discussion Papers 1977-04, JDI Executive Programs.
- Aaron, Henry J, 1976. "Inflation and the Income Tax," American Economic Review, American Economic Association, vol. 66(2), pages 193-99, May.
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