Gold Miners on the Ivory Coast May Have to Shutdown Due to Impending Tax

“Gold-producing companies in Ivory Coast may have to shut down operations in the West African nation if parliament approves a proposed tax on profit, according to Nouho Kone, head of a miners’ group.

A tax of 9 percent to 19 percent on profit “is not reassuring,” Kone, head of the Professional Group of Miners in Ivory Coast, said in a phone interview today from Abidjan, the commercial capital. “The worst-case scenario would be to see companies shut down their mines in the short term.”

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