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Ideal Time for Facts

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 By Michael Miller

06/09/2017  1:29PM

Supply/demand news on India’s gold market (GST).

The simplified taxation structure will make the gold supply chain more transparent and efficient. It should also boost India’s economy which in turn will support gold demand

Key points:
• At 3%, the GST rate announced on the 3rd June was lower than the industry had feared. Industry reaction has been positive.
• There are two important GST rates which will affect the gold industry: the 3% tax on gold products – which replaces the excise duty and VAT components, but sits on top of the import duty – and an 18% tax on services, which will affect small-scale artisans who design and manufacture jewelry for larger manufacturers.
• While the overall tax rate consumers face is likely to increase slightly, GST will bring benefits too. Firms will be able to offset the GST they pay against their revenues, and double taxation throughout the supply chain will be eliminated. Supply chains will become more efficient.
 By Michael Miller

05/05/2017  9:48AM

Gold mining in Mexico has a 500 years history of both commercial and artisan production. Today, gold and silver account for more than 50 percent of the country’s total metals output.

Over the last decade, gold production in Mexico stayed relatively stable; however, an uncertain gold price environment limited new mines openings in recent years. Most mining companies operating in Mexico focused on reducing costs and improving capital management. In 2016 gold output dropped from 135 MT to 125 MT. The decline, which was one of the country’s biggest, was partly due to harder and lower-grade ore types available.

One problem is that relatively little exploration is taking place. Last year, spending on exploration and development declined for the fourth year in a row to reach a 10-year low of $483 million. Mining in Mexico is a significant employment industry and valuable as an export producer of gold, silver and copper in that order. Expect it to continue.
 By abboseo

03/25/2017  11:52PM

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