Haiti - Economy : Laurent Lamothe evokes the legal framework of the mining sector...
On the sidelines of the 67th session of the UN General Assembly in New York, the Prime Minister, Laurent Lamothe stated that Haiti intended to update the mining laws in Haiti, dating back nearly 40 years, to take advantage of the country's natural resources.
To this end, the Prime Minister said that Haiti was seeking advice from several countries with important mining industries, including South Africa, the Peru and the Chile, to identify policies that would both encourage foreign investment and securing equitable benefits for Haitians.
The Prime Minister hopes to propose to Parliament in the next six months, a new bill for the mining sector, which could set the royalty rate between 9 and 12%. Stressing that currently the rate is 2%, clearly inadequate for the economic needs of Haiti.
Fixing the rate of royalty is a difficult exercise, too high, it may discourage foreign investment. Note that the company that operates the largest gold mining in the Dominican Republic, pay a royalty of 3.2% per ounce, on net sales, to which is added various other taxes.
