Gold Fields Says Ghana’s Windfall Tax Plans Could Halt $1 Billion Projects

Bloomberg reported that proposed increases to mining tariffs in Ghana could mean Gold Fields (NYSE:GFI) will cancel expansion plans in the country.

As quoted in the market news:

The West African nation will start charging a 10 percent windfall tax on mining companies next year and boost their corporate tax rate to 35 percent from 25 percent, Finance Minister Kwabena Duffuor told lawmakers in his annual budget statement Nov. 16.

Click here to read the full Bloomberg report.