IPACE Subcommittee on Demand Restraint

Sub-Committee on Native Participation in Mining

I have a prepared statement before the Q and A. I'd like to thank the House of Commons Subcommittee on International Human Rights for hosting this hearing and for your interest in learning more about Nevsun Resources Ltd. and our work on the Bisha mine in Eritrea, our only mining operation.

(c) for the supervision of the unit operation by the working interest owners through an operating committee composed of their duly authorized representatives and for the appointment of a unit operator to be responsible, under the direction and supervision of the operating committee, for the carrying out of the unit operation;

Another important feature of the tax system as it applies to mines is the ability of exploration companies to make expenses eligible that investors could not otherwise deduct in the form of flow-through shares (1850) [English] The government has also taken action to improve the taxation of the resource sector, including measures reducing the corporate tax rate on resource income, phasing in a new 10% tax credit for exploration and production expenses related to diamonds and other qualifying minerals, and phasing out the federal capital tax, an important measure for capital intensive industries such as mining.

Next is the third report of the Subcommittee on Human Rights and International Development, entitled “Mining in Developing Countries - Corporate Social Responsibility”.