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Consents Required for Overseas Persons Overseas Investment Regulations 1974 Foreign investment proposals must be reviewed by the Overseas Investment Commission to ensure that these are in accord with national interests. Consent must be obtained from the Commission for: 1. New investment proposals which include: a. An overseas person acquiring 25 per cent or more of any class of share in a company. b. A New Zealand company issuing shares to an overseas person where this will result in that person owning 25 per cent or more of the company. c. An overseas person acquiring business assets for consideration in excess of $100 000. d. An overseas person commencing business in New Zealand. 2. Borrowing in New Zealand: An overseas person must obtain consent to raise funds in excess of $300 000 in New Zealand. 3. Borrowing Overseas: New Zealand incorporated companies must obtain consent to borrow overseas. Current policy is borrowing will be approved where the loan is for a specified fixed term of one year or more.

Jan 1, 1982

By Granville S. Borden

The fruits of industry are divided between capital, labor, and governments. Capital takes its redemption and remuneration through profits or dividends; labor takes its share through wages; governments take their share through taxes. Each must have a just share, and the question of what is a just share and the question of who-shall make the allocation are vital current political and economic issues. Certain political philosophies con- tend that government should take all the fruits and that some dictator or politician should have irrevocable discretion and power to distribute the fruits. Believers in democracy and free enterprise adhere to the view that capital is entitled to redemption and fair remuneration; that labor shall have a fair wage; and that governments shall make equitable levies. But since all human beings, both individually and in groups, are inherently selfish, there are many variable views in regard to the question of what ratios shall be applied in a division of the fruits and who shall have the power to fix these ratios. Perhaps all parties should devote more energy to means of increasing the crop, and not so much time to quarreling over a division of the existing crop. Moreover, all three parties must guard against killing the goose that lays the mineral eggs. For example, if the tax burden becomes oppressive and the taxpayer refuses to carry it, then business stagnates, with consequent unemployment, reduction of profits, and curtailment of government revenue. If a producer assumes the increased tax burden, marginal operations must be closed down, and again the consequences are increased unemployment and diminished government revenue. Quite often an increase in a rate of tax results in a reduction of government revenue. Perhaps the worst detrimental feature of selfishness and greed on the part of any one of the three distributees of the fruits of industry is the retardation of expansion of the enterprise. Growth means new jobs, more government revenue, better trade, and better standards of living. Explorations and discoveries have resulted in tremendous contributions

Jan 1, 1959

By Granville S. Borden, Frank H. Madison

The fruits of industry are divided between capital, labor, and governments. Capital takes its redemption and remuneration through profits or dividends; labor takes its share through wages; governments take their share through taxes. Each must have a just share, and the question of what is a just share and the question of who shall make the allocation are vital current political and economic issues. Certain political philosophies con- tend that government should take all the fruits and that some dictator or politician should have irrevocable discretion and power to distribute the fruits. Believers in democracy and free enterprise adhere to the view that capital is entitled to redemption and fair remuneration; that labor shall have a fair wage; and that governments shall make equitable levies. But since all human beings, both individually and in groups, are inherently selfish, there are many variable views in regard to the question of what ratios shall be applied in a division of the fruits and who shall have the power to fix these ratios. Perhaps all parties should devote more energy to means of increasing the crop, and not so much time to quarreling over a division of the existing crop. Moreover, all three parties must guard against killing the goose that lays the mineral eggs. For example, if the tax burden becomes oppressive and the taxpayer refuses to carry it, then business stagnates, with consequent unemployment, reduction of profits, and curtailment of government revenue. If a producer assumes the increased tax burden, marginal operations must be closed down, and, again the consequences are increased unemployment and diminished government revenue. Quite often an increase in a rate of tax results in a reduction of government revenue. Perhaps the worst detrimental feature of selfishness and greed on the part of any one of the three distributees of the fruits of industry is the retardation of expansion of the enterprise. Growth means new jobs, more government revenue, better trade, and better standards of living. Explorations and discoveries have resulted in tremendous contributions

Jan 1, 1964

New Zealand's Land and Income Tax Act 1954 contains unique incentives for companies engaged in mining certain specified minerals or petroleum. Sections 152 and 153 provide for the taxable income of such companies to be based not on profits made but on dividends paid to shareholders. A significant saving in tax results, particularly where profits are not distributed: but the Act attempts to ensure that undistributed profits are used for further mineral exploration and development. To encourage investment in the mining industry, persons taking up shares in a company mining for the specified minerals or petroleum are entitled to a one-third deduction in respect of monies paid on the shares and used by the company for its purposes; and company shareholders may make loans to the company and write-off such loans for tax purposes to an amount of up to half their taxable income. Maximum utilisation of the tax incentives calls for careful consideration as to whether a mining or petroleum company should be financed by way of loan capital or share capital.

Jan 1, 1971

This paper compares and evaluates the impact of income tax and value-added tax on the decision to explore for minerals or to develop a mine in four countries: Australia, Papua New Guinea, Argentina and Indonesia. Three aspects are considered in depth:- domestic tax rules applicable to mining projects;- taxation of foreign mining investment and foreign providers of expertise;- taxation of project finance (other than equity) from foreign sources.Specific tax issues discussed include tax deductibility of various costs, treatment of tax losses, special tax incentives, comparative treatment of various corporate structures, non-resident withholding taxes, and tax costs of various forms of project finance. The paper also illustrates the comparative impact of income tax on rates of return by means of a simulation of a mining project in each of the four countries. The simulation demonstrates why the highest rate of return may be obtained in Argentina and the lowest in Australia.Relevant features of the income tax systems in each country (at 15 February 1990) are summarized and compared in several tables annexed to the naner.

Jan 1, 1990

By Louis Ware

A leading executive finds this a bad time to "cry" about taxes. Needed reforms must cede to emergency demands.

Jan 7, 1951

By R. D. Brown

For the first time in years, the spring budgets of federal and provincial governments have not brought down major new proposals affecting the tax burdens of the mining industry in Canada. It seems appropriate to use this unaccustomed period of tranquility to set out an extremely abbreviated summary of the principal features of the federal and provincial income and mining tax rules affecting the mining industry.

Jan 1, 1977

By Robert D. Brown

The federal government kicked off the new budget season in November 1978, when Finance Minister Chretien announced a handful of proposed amendments to provisions of the federal Income Tax Act and Regulations affecting mining. (See Tax Notes in the January 1979 issue of the CIM Bulletin.) Declaring in his budget speech that these changes were in response to the report of the joint federal/provincial task force on resource taxation, Mr. Chretien tossed the ball to the provinces-" I want to take the lead here... I feel confident that the provinces will do their part". Quebec and Ontario, picking up the ball in their spring budgets, have announced favourable modifications to the provincial taxes on mining, with these moves being paralleled in the recent Manitoba budget, which proposes a flatrate mining tax to replace the previous controversial two-tier royalty. In the meantime, the federal government passed a host of amendments to the federal earned depletion regulations. The result is yet another batch of complex tax changes for the industry to note and digest, but this time with the hopeful factor that most of the changes are favourable to the industry. This article reviews the current status of the federal budget changes, comments on the Ontario, Quebec and Manitoba proposals, and reports on the changes to the earned depletion regulations that were passed by Order-in Council in March 1979.

Jan 1, 1979

By Valcana Stoyanova

Data and information for this study were collected in June-July 2009 onboard the RV Yuzhmorgeologiya in the area covers about 7000 km2 in the eastern part of the CCFZ between 10º05? - 10º55?N and 119º25? ? 121º08?W. In accordance with the IOM research program the cruise was intend to acquire both geological and environmental data and information necessary for delineation of nodule deposits and also data for identification of the baseline of benthic ecosystem. Having implementation of its 15-year plan of work for exploration under the contract with ISA, current activities of IOM were focused on nodule fields within prime areas that could be mined in the future. Bottom photographs obtained by towed deep-sea vehicle NEPTUN along 6 profiles with common length about 300 km (Fig. 1). In total, about 11,500 digital photographs (what cover approximately 40,000 m2 of the ocean floor) were analyzed for assessment of nodule coverage and investigation of megafauna (animals, visible in photographs, the dimension more than 2 cm). The giant single-cell organisms Xenophyophorida were the most multiple animals in seabed photographs. Their number on the site area averaged 1187 ind/ha. However, the vertical camera position does not allow counting all xenophyophorids, therefore their valid number is represented 10 times more. According to all available information these protozoans play the relevant role in assemblage of deep-water environment, giving for other animal groups an [ ] additional source of nutrition and a substratum for settlement and attachment. The ophiuroids are found in assemblage with xenophyophorids in many cases, standing on a sediment at their base.

Jan 1, 2010

By C Caris, K Fowle, M Schmid, E van Wyk, D Schofield, A Squelch, M S. Kizil

This paper has been written collaboratively by members of the International Mining VR Group. It is the first of a series of papers. Mining in the 21st century is a high technology industry that strives to reduce risk and improve safety through the use of improved processes and procedures. This risk reduction process is aligned with the innovative use of technologies often developed for other industries. Computer-based visualisation systems and their content are such innovative technologies, in particular the use of virtual environment systems and mixed reality. A primary objective of developing virtual environment systems and the mixed reality content displayed in them for the mining industry is to allow mine workers and operators to practice mine processes and demonstrate competency in tasks that will be encountered in day-to-day mining operations at mine sites. It is anticipated that providing easy access to virtual environment systems will facilitate the avoidance of high-risk situations through improved knowledge, skills, understanding and decision making. Via virtual environment systems mine workers will also be able to practice infrequent or emergency events and maintain preparedness for such events. Day-to-day mining practices can also be evaluated. The rapid pace of technology innovation and the decreasing cost of simulation hardware and software present a plethora of technology to the uninitiated. This can be confusing. In this paper taxonomy is presented that classifies hardware, what it can display and also content that can be included or displayed on the various computer-based visualisation systems. The taxonomy provides insight into where technology can and may be implemented in the future as virtual environments are a dynamic and evolving technology. The taxonomy should also assist in the decision making process when scoping or selecting technology for a particular purpose.

Jan 1, 2008

By Henry S. Drinker

THE Musconetcong tunnel is situated in New Jersey, near the line of the Central Railroad of New Jersey, about twelve miles from Easton, on the Easton and Amboy Railroad, the latter being the extension of the Lehigh Valley Railroad to tide-water. Up to the present time, the terminus of the Lehigh Valley Railroad has been at Phillipsburg, N. J., opposite Easton, passengers connecting there with New York by the Morris and Essex (D. L. and W.) and New Jersey Central lines; freight and coal being forwarded by the Morris and Essex to tide-water at Hoboken, and by the Central Railroad to Elizabethport and Port Johnson ; also, by the Belvidere and Delaware connections through Trenton to South Amboy.

Jan 1, 1875

By Sergio Estebanez, Martha Gross, Ruben Rubal, Yvonnick Rescamps, Alexandre Cochennec

The Hampton Roads Bridge-Tunnel (HRBT) Expansion project in coastal Virginia, USA will add two 1.5-mile (2.4 km) TBM bored tunnels alongside two existing immersed-tube tunnels between artificial islands. The site’s unusual constraints and the requirements of a large-diameter variable-density TBM shaped the design-builder’s decisions for handling TBM inputs and outputs, siting the TBM plant and supporting equipment, and sequencing tunnel-construction operations. This paper addresses the logistics necessary to enable key functions of the 46-ft (14-m) TBM and its ancillary equipment, including transport of most materials by barge, U-turn of the TBM on an artificial island, and delivery of materials for the second tunnel through the first one while interior structures are under construction.

Jun 13, 2021

By Enrique Fernández

INTRODUCTION The high speed rail link between Madrid and Asturias, in the North of Spain, has encountered in the Cantabrian range the biggest challenge of the whole line, a very deep tunnel, 25 km long through a foreseen difficult geology. This tunnel was divided in the following four lots for construction: ¦Lot 1: Pola de Gordón- Folledo. L=10,7 km ¦Lot 2: Folledo-Viadangos. L=4,166 m ¦Lot 3: Viadangos- Los Pontones. East tube. L=10,4 km ¦Lot 4: Viadangos- Los Pontones. West tube. L=10,4 km. Dragados S.A. leading a JV was contracted to design and built the Lot 2 on the captioned Pajares High Speed Railway Tunnel. The Lot 2, comprising the middle third section of the 25 km long tunnel has an additional challenge: the construction of one access from the surface to allow it own construction. Feasibility reports and preliminary design do not foresee the use of TBM due to the risk of squeezing ground at the deepest area of the tunnel. On the other hand, conventional NATM excavation of the twin tunnels and ancillary works, including access shafts were against the expected construction schedule by the client, due to the poor ground foresee at the early stage.

By Francesco Chiappalone, Marco Invernizzi, Franco Gasperin, Fabrizio Fara

As part of the Ship Canal Water Quality Project, 2.7-mile Combined Sewer Overflow tunnel is excavated with a 21.5-foot diameter EPB Tunnel Boring Machine. Due to the difficult geological and hydrogeological conditions, the tunnel is excavated maintaining a ground support pressure between 1 and 3 bar imposing significant challenges to the projects. The first part of the paper describes the general characteristics of the project while the second part focuses on the challenges and technical details of the pressurized breakthrough that took place in a deep shaft excavated in urban environment as part of the project.

Jun 23, 2024

By Francesco Chiappalone, Filippo Azzarà, Raffaele Aliberti, Daniele Nebbia, Lance Waddell

As part of the 3RPORT and NEBT Projects, 5-mile Combined Sewer Overflow Tunnels were excavated with a 19 ft diameter Slurry and 26 ft diameter EPB Tunnel Boring Machines. Due to the difficult geological and hydrogeological conditions, both tunnels were excavated maintaining a ground support pressure between 2 and 5.5 bar imposing significant challenges to the projects. The first part of the paper describes the general characteristics of both projects while the second part focuses on the challenges and technical details of the pressurized breakthroughs that took place in deep shafts excavated in urban environment as part of the projects.

Dec 1, 2022

By S. Okubo, K. Fukui

Empirical equations established for estimating the rock strength of the working face based on the cutting forces of a tunnel boring machines (TBM) are further examined and discussed with respect to the dominant factors affecting TBM performance. Constants in the equations are related to TBM-specific parameters such as excavation (tunnel) diameter, cutter diameter, and cutter distance. The relationship between the constants and the TBM specifications is examined in this study on the basis of data collected at ten tunnels, and it is found that the constants are most strongly influenced by the cutter diameter and tunnel diameter. Zur Schätzung der Gesteinsfestigkeit an der Arbeitsfläche ermittelte empirische Gleichungen, die auf den Schneidekräften von Tunnelbohrmaschinen (TBM) beruhen, wurden weiter im Hinblick auf die vorherrschenden, die Leistung der TBM beeinflussenden Faktoren hin untersucht und diskutiert. In der Gleichung enthaltene Konstanten werden zu den TBM-spezifischen Parametern wie Auschachtungs- (Tunnel) Durchmesser, Schneidendurchmesser und Schachtlänge in Beziehung gesetzt. Die Beziehung zwischen diesen Konstanten und den technischen Daten der TBM wird in dieser Studie auf der Basis der bei 10 Tunnelbauten gesammelten Daten untersucht. Dabei wurde gefunden, dass diese Konstanten am stärksten von den Durchmessern der Schneiden und der Tunnel beeinflusst werden. Cette étude examine et discute les équations empiriques permettant d'estimer la résistance de la roche attaquée aux forces de coupe des tunneliers dans le cadre de l'étude des facteurs dominants affectant les performances des tunneliers. Les constantes de ces équations concernent les paramètres spécifiques des tunneliers comme le diamètre d'excavation (du tunnel), le diamètre du couteau et la distance de coupe. Cette étude examine le rapport entre ces constantes et les caractéristiques techniques des tunneliers d'après des données collectées dans dix tunnels et elle conclut que ces constantes sont principalement influencées par le diamètre du couteau et le diamètre du tunnel.

Jan 1, 2003

By Gary Peach, Peter Mason

Planning and estimating progress rates and costs for tunnelling is always best done based on experience and historic precedent. Much precedent is available but the use of data monitoring, data mining and other retrieval techniques on modern TBM machines can enable this to be further expanded and refined. Advance rates can be related much more closely to rock types as can associated rock bolt and mesh/ shotcrete requirements. This in turn can lead to a further refinement in best likely combinations of equipment, such as shotcrete jumbos, better selected for the anticipated conditions, rather than the potential advance rates of the machine. Efficient and timely construction of the tunnel will also be linked to times needed for finishing work, such as contact and void grouting and to how this can be initiated while the TBM is still in operation, in order to save overall construction time. Indeed, this in turn may affect the most preferable layout and construction details of the permanent tunnel. Considerable experience has been gained in the use of two large diameter TBM tunnel drives through the Himalayas at the Neelum-Jhelum hydropower project in Pakistan. All the above aspects will be discussed in the paper based on the considerable experience and data which came from that operation, including appropriate measures in highly stressed areas potentially subject to rock burst.

Jun 13, 2021

By Jeffrey Mitsopoulos

King County?s (KC) Brightwater Conveyance Project in Seattle, Washington involves the construction of approximately 21 kilometers (13 miles) of bored tunnel, in three contracts, with four TBM?s which produce large amounts of real-time digital mining data. To facilitate the management of TBM data with a single interface and assist in project Quality Assurance, KC?s Construction Manager (Jacobs Engineering) recommended the use of the software TPC (Tunneling Process Control), developed by Babendererde Engineers GmbH. The paper demonstrates how TPC was used for oversight, analysis and QA on a complex tunneling project and how contemporaneous review and management of data results in a better understanding of TBM performance than can be obtained by retrospective analysis of data.

The last decade has seen a very rapid development in TBM tunnelling. Some trends are purely technical or economical and others relate more to preferences of different interests. Power levels have more than doubled and thrust levels too. Shield machines are developed to be able to handle harder rock and the open TBMs are made more feasible for `difficult' rock. What is right and what is wrong is more a matter of opinion, but one thing is certain: TBMs now are a useful tool and no longer an experimental work-shop for the enthusiasts.This paper highlights some recent developments and indicates some probable future ones. A few features that have increased the open TBMs' ability to cope with ever harder rock and also to overcome problems with poor rock are discussed in detail, using the Atlas Copco JARVA Mk 27 -the most powerful TBM built so far - as a reference.

Jan 1, 1993

By Z. T. Bieniawski, José Miguel Galera, Benjamín Celada

TBM case histories from over 400 tunnel sections are analyzed presenting a comprehensive application of the Rock Mass Excavability (RME) index (Bieniawski et al.2006). The paper introduces two new adjustment factors, called the Factor of Tunnel Length and the Factor of Crew Effectiveness, which were established to represent more realistically the interaction of the rock mass characteristics, the TBM parameters and the performance of the crew operating the machine. A new correlation is provided for predicting the average rate of advance of double-shield TBMs working specifically in the double-shield mode.

Jan 1, 2007