Mining Royalties : A Global Study of Their Impact on Investors, Government, And Civil Society

Foreword xi Preface xiii Acknowledgments xvii Acronyms and Abbreviations xix CHAPTER 1 Introduction 1(6) CHAPTER 2 Taxation of the Mineral Sector 7(34) Mineral Taxation in General 7(28) Evolution of Mineral Taxation 35(6) CHAPTER 3 Mineral Royalty Instruments 41(96) Purpose of Mineral Royalties 41(2) Types of Royalties and Assessment Methods 43(37) Comparison of Royalties in Selected Nations 80(44) Private Party Royalties 124(13) CHAPTER 4 Impact of Royalties on a Mine Quantitative Analysis 137(46) Impact of Selected Royalty Types on Three Mines 137(12) Model Results and Discussion 149(15) Royalty and Tax Effects on Mine Cutoff Grade 164(16) Discussion of Quantitative Results 180(3) CHAPTER 5 Implications of Royalties for Investors, Civil Society, the Market, and Governments 183(56) The Investment Climate 183(36) Impact on Civil Society 219(7) Impact on the Market 226(3) Impact on the Government and the Host Country 229(10) CHAPTER 6 Transparency, Governance, and Management of Revenue Streams 239(26) The Case for Transparency 239(2) General Principles of Disclosure and Reporting 241(6) Key Challenges in Disclosure 247(8) Model Reporting Template for Mining Sector Revenues 255(1) The Extractive Industries Transparency Initiative 255(6) Emerging Lessons 261(4) Summary and Conclusions 265(14) Summary of Findings 265(11) Recommendations and Best Practices 276(3) Dedication 279(2) About the Authors 281(4) Index 285