CRAFT A SECTOR-SPECIFIC MINING TAXATION REGIME FOR ARTISANAL AND SMALL-SCALE MINING

CRAFT A SECTOR-SPECIFIC MINING TAXATION REGIME FOR ARTISANAL AND SMALL-SCALE MINING
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The mining sector has been dominated by large scale mining at the neglect of Artisanal and Small-scale Mining (ASM). However, it is worth noting that the latter presents itself as a conduit of inducing poverty reduction in communities hosting mineral resources. Additionally, ASM positions itself as a low hanging fruit to proliferate human development. However, it is worth noting that several challenges prevent this strategic sector from initiating nationwide social-economic development. At present, the sector is faced with several challenges including low access to finance, lack of geological information, lack of basic technology to be used in the mining process, and a high mining tax rate. It must be stressed that strategies to grow the sector must aim at overcoming some of these barriers.