Gabonese government signs exploitation agreement for Okondja with Nouvelle Gabon Mining
2020-01-07 17:38:28 [Print]
After five months of negotiations, the Gabonese government and Nouvelle Gabon Mining, the Indian company, signed an exploitation agreement and have started a large-scale exploitation at the manganese deposit Okondja, in the southeast of the country. The reserves at Okondja site are estimated at several million tons.
According to the agreement, the RMP will be immediately applicable at the start of production at a rate of 5%. After the return on investment, the company will be subject to a corporation tax up to 30% and the RMP will rise from 5 to 10%. In addition, 10% of its commercial production will be made available to Gabon for production sharing.
Nouvelle Gabon Mining is a company with Indian and Gabonese capital. It produces manganese ore in the Haut-Ogooué province.
According to the agreement, the RMP will be immediately applicable at the start of production at a rate of 5%. After the return on investment, the company will be subject to a corporation tax up to 30% and the RMP will rise from 5 to 10%. In addition, 10% of its commercial production will be made available to Gabon for production sharing.
Nouvelle Gabon Mining is a company with Indian and Gabonese capital. It produces manganese ore in the Haut-Ogooué province.
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