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India said to consider lowering gold import tax to 6% from 10%
By Shruti Srivastava
Bloomberg News
Wednesday, December 21, 2016
India, the world's second-biggest consumer of gold, is said to be considering cutting the import tax on the precious metal to curb its smuggling, according to people familiar with the matter.
The government is planning to reduce the duty to 6 percent from its current 10 percent, said the people, who asked not to be named as they are not authorized to speak to the media.
Gold shipments to India, which accounted for a quarter of global demand in 2015, have fallen due to higher prices in the first half of this year, a crackdown on undisclosed income and the government's decision to withdraw old high-value bank notes. The government had raised the import tax three times in 2013 to curb inbound shipments, narrow a record current-account deficit and stop a slump in the rupee.
"Smuggled gold is cheaper while those who import have to pay high cost." said Praveen Shankar Pandya, chairman of the Gem & Jewellery Export Promotion Council. "The duty structure should be such that it doesn't encourage smuggling and brings in transparency." ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2016-12-21/india-said-to-conside...
Canadian Government Issues Key Water License
for Seabridge Gold's KSM Project in British Columbia
Company Announcement
Monday, November 21, 2016
TORONTO -- Seabridge Gold Inc. (TSX: SEA) (NYSE:SA) announced today it has received a license from the Government of Canada required for the construction, operation, and maintenance of the water storage facility and associated ancillary water works at its 100 percent-owned KSM Project in northwestern British Columbia.
The license, as authorized within the International Rivers Improvement Act, regulates all structures and activities situated on transboundary waters shared with the United States that have the potential to affect water quality and quantity. The Water storage facility and its ancillary water works (water diversion ditches and tunnels) are the primary water management control systems for the KSM Project. These facilities separate water that has not contacted mined material from so-called contact water originating from disturbed areas of the mine site and then contain the contact water prior to treatment and eventual release to the receiving environment.
These facilities are situated on Mitchell and Sulphurets creeks, tributaries of the transboundary Unuk River system that flows into Alaska. The license was granted for a term of 25 years under the International Rivers Improvements Regulations as administered by Environment and Climate Change Canada. ...
... For the remainder of the announcement:
http://seabridgegold.net/News/Article/642/federal-government-issues-key-...
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