G Mining Ventures Secures Major Tax Incentive for Brazilian Gold Mine
TL;DR
G Mining Ventures gains significant tax advantage with Tocantinzinho Gold Mine tax rate reduced from 34% to 15.25%, boosting margins and funding growth projects.
Brazil's SUDAM approved a 10-year tax incentive program reducing corporate income tax for the Tocantinzinho Gold Mine from 34% to approximately 15.25% starting fiscal 2025.
This tax incentive supports regional development in Brazil's Pará State while enabling G Mining Ventures to fund sustainable growth and exploration initiatives.
G Mining Ventures secured a major tax break in Brazil that will significantly boost cash flow for its gold mining operations and future projects.
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G Mining Ventures Corp. has received approval from Brazil's Superintendência do Desenvolvimento da Amazônia (SUDAM) to include its Tocantinzinho Gold Mine in Pará State in the regional development tax incentive program. This approval represents a substantial financial benefit for the mining company, reducing the nominal corporate income tax rate for the Tocantinzinho project from 34% to approximately 15.25% for a period of 10 years starting in fiscal 2025, with potential for renewal thereafter.
The tax incentive significantly enhances the economic viability of the Tocantinzinho Gold Mine, which serves as one of GMIN's cornerstone assets alongside the Oko West Gold Project in Guyana. CEO Louis-Pierre Gignac emphasized that the reduced tax burden will strengthen TZ's overall economics, expand operational margins, and increase free cash flow generation. This improved financial position will support the company's broader growth initiatives, including development of the Oko West Gold Project and exploration activities at the Gurupi property.
The approval from SUDAM comes at a strategic time for G Mining Ventures as the company positions itself to grow into a mid-tier precious metals producer. The tax incentive program is designed to promote regional development in the Amazon region, and GMIN's inclusion demonstrates the project's alignment with Brazil's economic development objectives. The reduced tax rate provides substantial financial flexibility that will benefit the company's operations and expansion plans throughout South America.
G Mining Ventures specializes in the acquisition, exploration and development of precious metal projects, focusing on creating value through successful mine development. The company leverages strong access to capital and proven development expertise to advance its portfolio of assets. Both the Tocantinzinho Gold Mine in Brazil and Oko West Gold Project in Guyana are located in mining-friendly jurisdictions with strong mineral potential, providing a solid foundation for the company's growth strategy. The latest news and updates relating to GMINF are available in the company's newsroom at https://ibn.fm/GMINF. The tax incentive approval represents a significant milestone for G Mining Ventures as it continues to advance its South American precious metals portfolio while optimizing the financial structure of its flagship Brazilian asset.
Curated from InvestorBrandNetwork (IBN)
