Why Corporate Income Tax Should Be Abolished Essay

Why Corporate Income Tax Should Be Abolished - Essay Example This would make the conditions of doing business in the country more friendly. As a result, foreign investors would flock the country in pursuit of the American dream. The main aim of the corporate income tax is to make sure that corporations too have a role to play in nation building by paying tax. The government provides the corporations with a good environment to do business and in order to support this; the government uses a substantial amount of funds. Therefore, the corporations should pay tax to ensure that the government is able to provide them with such services that enable them to be profitable. As much as the corporate income tax stands at 35%, some corporations have found ways to bring this number down to around 12%. This is has been made possible through the introduction of tax refunds. Wealthy individuals will also find ways to incorporate their wealth to their corporations’ wealth. This would mean that the government would lose more revenue. The author states that at some point in history when the personal income tax become high, wealthy individuals incorporated their wealth to that of their corporations in order to pay the much lower corporate income tax. If the corporate tax was to be scrapped off, it should be done in well calculated move. The benefits and the costs should be considered both in the long run and the short run. All the loopholes should then be closed to ensure people don’t take advantage of this as a way to avoid paying taxes. Such a move would spell danger to the American economy.

Discuss and Examine the Free movement of Lawyers to provide services Assignment

Discuss and Examine the Free movement of Lawyers to provide services and establish a practice in another Member State of the Eur - Assignment Example Heremans (2010) indicated that by ratifying several laws the EU’s actions are geared towards integrating the national systems for legal practice within its jurisdiction. This paper is aimed at assessing the structures guiding the legal practice within the larger European Union. The main challenges facing the regulations and the implications of legal practice within the territory are also covered in this paper. In understanding these issues, the paper analyses the Treaty upon which the European Union is anchored, EU Directives on legal practices within the region, and authorities issued by the European Court of Justice (ECJ). This paper focuses on movement of legal professionals within the European Union to provide services. History of EU Regulations Hill (1995) noted that the establishment of the statutory structures for legal practice within the EU is a process that has lasted for many decades. The issue first arose in 1957 when various countries within the region signed the EU Treaty (Hill, 1995). The then Article 59 provided for the freedom to legal practice within the territory. ... Article 50 also states that without partiality to the letter and spirit of Article 43, which confers upon EU citizens the right of establishment, a legal specialist may briefly render services in another country where the client is based, under the national legal structures of the place of service. Article 43 covers actual carrying out of economic activity in different EU Member States everlastingly by integrating into the economic system of that state (Tucker, 1997). Regardless of its unifying foundation, Giesen (2005) has noted that the EU Treaty is only the universal legal structure guiding the free movement of people and services across states within the EU and falls short of providing the finer details of service provision. In light of the EU legal limits, the invocation of the freedom of establishment is dependent upon secondary laws, which are passed to complement EU regulation of service provision in particular fields (Hill, 1995). ECJ Authorities At first, the issue of wheth er a legal practice needed to be excluded from the universal liberal clauses supporting freedom to offer services and the establishment of one’s self was contentious (Hill, 1995). Notably, the EC Treaty provides for exceptions only where freedom to render services and establish oneself may have an impact on execution of national government policy (Giesen, 2005). But Guild (1999) noted that the activities of legal professionals have no bearing on the implementation of government policy. In light these ambiguities the ECJ has delivered landmark rulings in favour of economic integration. Previous verdicts of the European Court of Justice (ECJ) have been imperative in setting aside the legal hindrances imposed by member states on individuals who are willing to enjoy their right to

Advantages And Disadvantages Of Globalisation Economics Essay

Advantages And Disadvantages Of Globalisation Economics Essay Redding (1999) defines that globalisation as the increasing integration between the markets for goods, services and capital and at the same time the breakdown of borders. Other researcher found that the process of globalisation not only includes opening up of world trade, development of advanced technologies such as communication, internationalisation of financial markets, growing importance of multi-national corporations (MNCs), population migrations and generally increased mobility of persons, goods, capital, data and ideas but also critical problems such as infections, diseases and pollution (Braibant, 2002). Thus, from many point of views, globalisation is seen to be the borders between countries, governments, the economy and communities, increasing liberalization and openness of markets, particularly through the elimination of barriers to trade in goods and services and the development of integrated international financial market. PRUS (2001) simplified the term of globalisation as a process of increasing connectivity, where ideas, capital, goods, services and people are transferred across country borders. Labour and employment Positive Impact However, the process of globalisation can bring more jobs opportunities in host country when MNCs move their production operation into developing countries. According to Rama (2003), job creation only will occur in export-processing zones where large amount of work forces are required in order to keep the production running. A good example of jobs creation would be Coca-Cola decided to invest in Malaysia with a new bottling plant, consist of $301 million investment. They stated that this investment will able to create 600 to 800 jobs at the plant with 8,000 jobs connect with local suppliers (Agence France-Presse, 2010). Negative Impact Woods (2000) stated that the government of developing countries start to compete with each other by deregulate their policy to attract foreign direct investment (FDI) and multi-national corporations (MNCs). Hence with lower the wages and taxes rates enable the investors to avoid the risk of losing their capital invested in developing country. Research done by The Economist (2001) and Woods (2000) and found that when the government of developing countries increasing minimum wage and labour safety standards in order to protect local workers rights, this might could cause MNCs relocate their operation to another developing countries, where that particular countrys labours, who were probably willing to accept low wages by any standards, lack of union representative and legal protections such as child labour and other gross labour that abuses by global companies. Technology transfer Positive Impact Transfers of technology depend on resource available by MNCs with the ability to achieve the level of technology development in order to make them competitively in global market. Usually developing countries unable to do research and development on their own as the technologies that required implementing the competition strategy are most likely to come from other countries through technology transfer (Stewartet al., 2003). Hipkin and Bennett (2003) stated that the extent of developing countries, participation in global economy depend on their ability to respect where the importance of technological transfer cannot be overemphasized. There are ten modes of technology transfer which has been identified by Peter Buckley (1985, citied in Transnational Corporations and Technology Transfer to Developing Country) but the most conventional form will be whole-owned subsidiaries. This form is also known as FDI where MNCs can lower their transaction cost (Cantwell and Dunning, 1994). Hence technology transfer to subsidiary in other country allow developing country to learn the operation of new technology. Sometime subsidiary didnt allow local firms to learn but they somehow find their way to obtain the technology such as hiring operator from that particular subsidiary (Mansfield and Romeo, 1980). Negative Impact However globalisation can also bring negative impact to developing country. Certain MNCs transfer their technology to developing country as those technologies might cause health problem to employees as well as local citizens. Good example would be Bhopal disaster caused by America MNCs subsidiary, Union Carbide India Limited that produces pesticides. Sophisticate technology bought into India but the leakages of chemical caused more than 500,000 people suffer from the disaster (Eckerman, 2005). Social impact Positive impact Globalisation can bring good and bad effect to developing countries. Developing able to reduce the amount of population that live below poverty level with the help of globalisation as the effect of job creation has been achieved (Lee and Vivarelli, 2006). Local citizens are able to get a job and ensure the survival of their family and improve their living standard. Negative Impact In this era of globalisation, social aspect is tightly related to the effect of the waves of globalisation such as living standard, career, families and their communities. In this case, globalisation are claimed that it is a method to organise someones life which consist of assimilation, communication among people, organisation, and the government as well in other part of the world. Hence, it was also called the method that used driven by global trade and investment aided by information technology. Besides, this issue is also directly inter-related with some other issues such as unemployment, disparity and scarcity, and environment as the chain effect of the waves of globalisation (Globalisation 101, 2002). The inter-relationship between the technology and economic is very critical and it succeeded in consisting the rise of the theoretical approaches where the centrality of changes in technology have been accepted and the dynamic force of the term innovation in the elements of economical changes (Freeman, 1998; von Tunzelmann, 1995). According to Nussbaum and Sen (1993), investment in technology appears to have an optimistic link to wider philosophy in developing economic interests which include social choices and freedom capability in longevity and education. Globalisation on impact of the countries economy Positive Impact According to Baghwati (2004) globalisation is playing the significant role of enhancing economic affluence by offering new hope to developing countries. Gangopadhyay and Chatterji (2005) saying that globalisation has been characterised as a reduction in trade barriers such as free flow of goods, services and labour from one country to another. Richardson (2000) contends with these views as, the effect of this is increasing the trade which turn into increased income for developing countries and serves as an opportunity to stabilise their economies by taking the advantages of trade. This statement is true and has been proving by (Richardson, 2000; Dierks, 2001) that globalisation has greatly reduced the trade barriers between countries through adjustment of tariffs and import duties. Negative Impact The rise in globalisation has increased capital flow into developing countries economies. Foreign Direct Investment injects capital into developing countries in terms of stabilizing the countries economic. This is also a benefit that increased the countries financing through loans and grants from developed countries (Aurifeille, 2006). However, there will be net capital inflow that could lead to negative effects on trade. Chan and Scarritt (2001) noted that the large capital inflows were caused by the appreciation of exchange rates and inflationary pressures that impact on the countrys current account. This means that globalisation in improving the countries economy could actually stop the progress of the economy unless the host countries balance of payment focuses on the foreign plant where the export is more than import. The adjustment in trade barriers has lead to the promotion of specialisation to developing countries because they are able to concentrate on the production of commodities which can be produced at the least cost (Aurifeille, 2006). Developing countries fully use the advantage of globalisation to enhance their income through trading goods which they can produce most effectively. Such development is giving developing countries an opportunity to obtain goods that prove expensive to produce in their own countries. Corsi (2009) saying that, competition is always an effective way of enhancing innovation to produce better quality goods. Thus, globalisation had enhanced competition as the flow of goods and services between countries has becomes easier. Globalisation impacts on economic and environment Negative Impact Economic and environmental problems show few signs of improvement for a large share of the worlds people but when comes to external debt levels, weak export and real income growth, it often enter a mutually destructive relationship with environmental and resource degradation which linked to the agriculture and urban activity. The important connection between economic and environmental problems can be clearly seen in the widespread social and economic impacts towards soil erosion, deforestation, urban congestion, unmanaged chemical such as heavy metals, air pollutants, solid and liquid industrial and residential waste (Long, 1990). According to Huber (1982) and Simonis (1989), ecological modernisation was one of the primary modes of sustainable development which comprised both a theory and a policy or political programme based on the view that comprehensive political and economic change could be implemented to achieve a less material and energy-intensive economy through the application of integrated and preventive resource and pollution-reduction strategies. This technologically-intensive mode of production would not be a viable option for lower income nations because the intensive technological basis of ecological modernization suggests that its effective operation and flow-on benefits are probably beyond the reach of poorer nations. Indeed, rapid global technological progress has often resulted in the Intensification of uneven development rather than enhanced opportunities for the poor (Freeman, 1987). The post-materialist solution for technologically advanced economies would Conclusion Although globalisation can help developing countries to grow and become developed countries through different kind of benefits enjoyed by them but at the same time globalisation can bring disaster to developing countries, even can bring the whole country collapse in few months times. Research done by scholars indicated that globalisation can be a benefit to developing country but at the same time its also a threat to developing country. However the net benefits enjoyed by developing countries is greater than net cost paid as shown in this literature view can say that globalisation can actually bring benefits to developing countries.

Essay --

Lynn, Laurence E, Jr. 2013. â€Å"America’s ‘Broken Government’: What Would James Madison Say?† Administration and Society 45.5 (July): 610–624. In the article â€Å"America’s ‘Broken Government’: What Would James Madison Say?† the author Laurence E. Lynn Jr. provides the reader with important facts about the establishment of American government and what can be done to fix its brokenness. His viewpoint is that the government is not broken, but that the people who govern are broken by not maintaining a â€Å"perfect union† or â€Å"domestic tranquility.† (611) The author’s viewpoint is based on James Madison’s contribution to the Constitution. The foundation that the Constitution was created upon has not changed; however, the way it is utilized is affected our nation. James Madison envisioned that basic governing structures, virtues, and inherent fairness for everyone would ensure that liberty and justice were sustained; however, the author states that neither competence nor virtue is certain. (613, 623) In order to provide an insight to the mindset of James Madison’s vision for the Constitution’s use in American government, Lynn uses excerpts from the Federalist to show the reader how Madison incorporated an â€Å"institutional design† to structure and guide the separated powers of our government as well as the checks and balances used to maintain order. (614) This approach made sense because the included excerpts showed that the structure of government has remained true. The author states that issues with the government arise due to the rival interests of our elected officials. He describes this as being â€Å"grid-locked† and states that the parties involved within our governing body become divided by these â€Å"id eological and interest-based† conflicts. The... ...te. These methods help him to effectively compile pertinent information from leadership literature in order to provide the reader with an article that successfully brings the ideals of leadership together. Overall, the author does a great job of providing the reader with a better understanding of how each leadership could be implemented, the advantages of each style, and what concerns may arise from a particular leadership style. Van Wart’s article serves â€Å"to provide a frame for what is constant in leadership and what is new in leadership.† This article would be beneficial for those who are â€Å"aspiring to leadership† or someone who currently holds a leadership role. (553) Van Wart inclusion of a chart makes this information easy to share at a short leadership meeting and may enlighten someone in an administrative position on how to be a more effective leader.

Military: Leadership and Discipline

Discipline Leadership Responsibilities and Duties Importance to the Military Discipline: Training that corrects, molds or perfects the mental facilities or moral character; the discipline to a superior authority. [Defined by Webster]. Discipline to me means that you are capable of accepting the norms. You respect the commands given from a higher authority or the leader in charge. Training your mind to think in a routine way of life, being able to accept the responsibilities of what you do and/or don’t do.In the world of the military discipline is a major factor. It defines your future and what you do or how your career will turn out. Max Anders says, â€Å"Only the disciplined ever get really good at anything. † Everything in life requires some sort of discipline. Whether it is hitting a baseball, climbing a mountain, playing a musical instrument, making good grades or brushing your teeth it all comes down to a matter of discipline. The core of a superior soldier is sai d to be moral disciple. Morals are principles and beliefs concerning rights and wrongs of behavior). Discipline tends to be important because it is the basis of todays and yesterday’s soldiers. In the Army discipline comes in many forms and fashions: PRT, drill and ceremony, basic commands given, routine life, training the body, etc. Discipline is something you need to have to live a military life and be successful. Leadership: the position or function of a leader; a person who guides or directs a group; the ability to lead. [Defined by Webster].A leader in the military life is usually the most â€Å"squared-away† soldier. One that had the discipline to know and correct another when one needs help or is the wrong. I feel that when it comes to the military one who is a soldier has to have discipline. You can not be a leader and not have the discipline to lead a group/platoon to success. Leadership means you have the discipline to maintain yourself as well as the rest fo llowing you. Being in a leadership role means that you are capable of leading by direction and following direction at the same time.As a leader you should never have the ones you are leading do something you yourself would not do. You have to lead as being lead. â€Å"Never forget that no military leader has ever become great without audacity. If the leader is filled with high ambition and if he pursues his aims with audacity and strength of will, he will reach them in spite of all obstacles. † As quoted by Karl von Clausewitz. Leadership and discipline go hand and hand in the army. I feel that you can not have one without the other. Along with that goes the Army core values.With the right discipline noticed by the right sergeant/officer you are most-likely to be a leader of a platoon or group given. Both topics are important to the military way of life without these 2 subjects the army would have no foundation. Soldiers in the leadership position guide the platoon to a succe ssful mission. Soldiers with the right discipline tend to lead the mission to victory. Without the 2 come many consequences: loss of rank; money, leadership positions, suspension etc. Personally I feel that a great leader has discipline.Being a leader without discipline you have nothing. Being a good leader to me means that you leave your mark on the ones who follow you. When another leader comes to charge, the soldiers that you have lead will know if that leader is good or not based on the path left behind. â€Å"The final test of a leader is that he leaves behind him in other men the conviction and the will to carry on. † – Walter Lippmann, 1889-1974. A good leader will continue to lead weather they are in a leadership position or not. As said before it is a basic foundation to get the mission completed.The military’s discipline is also know and having military bearing, knowing where to act in accordance. Commissioned officers and officers would have to make s wift decisions in the battlefield that may affect the lives of their soldiers. In a world of chaos, their subordinates are relying on their leaders to make the right decision and trusting that those big decisions made is the best out of all the options given. Leaders should be able to make these big decisions with all his confidence projecting out with his military bearing.A leader should look like a leader, disciplined, confident, and has the skills and abilities to persuade and provide their subordinates with the motivation, direction and purpose so as to accomplish a mission without being easily rattled by problems that arises. One who leads has to have the proper discipline to be a great leader. With these words sergeant who lead me also feel that I’m a great leader with the proper discipline to lead. Duty: Obligatory task, conduct service or functions that arise from ones position; assigned service or business. Defined by Webster]. At each level of authority soldiers hav e certain responsibilities or duties that they must fulfill. Duty begins with everything required of you by law, regulation, and orders but it includes much more than that. A duty is a legal or moral obligation. Duties are assigned at different levels rank for set reasons. As a private or non-NCO you may not hold as many responsibilities compared to an NCO, which can hold numerous amounts of duties that all are required to be fulfilled in a timely manner.Responsibilities: The quality or state of being responsible. [Defined by Webster]. Responsibilities are set to enforce task and make sure they are carried out properly. They are set for a numerous amounts of reasons. Some responsibilities are set to see how well an individual performs under certain task, time limits. Others may be set to get a task or chore done. All of these things combined are qualities that make or break a soldier. If you lack one the possibilities are great that you may lack another. Military: Leadership and Discipline Discipline Leadership Responsibilities and Duties Importance to the Military Discipline: Training that corrects, molds or perfects the mental facilities or moral character; the discipline to a superior authority. [Defined by Webster]. Discipline to me means that you are capable of accepting the norms. You respect the commands given from a higher authority or the leader in charge. Training your mind to think in a routine way of life, being able to accept the responsibilities of what you do and/or don’t do.In the world of the military discipline is a major factor. It defines your future and what you do or how your career will turn out. Max Anders says, â€Å"Only the disciplined ever get really good at anything. † Everything in life requires some sort of discipline. Whether it is hitting a baseball, climbing a mountain, playing a musical instrument, making good grades or brushing your teeth it all comes down to a matter of discipline. The core of a superior soldier is sai d to be moral disciple. Morals are principles and beliefs concerning rights and wrongs of behavior). Discipline tends to be important because it is the basis of todays and yesterday’s soldiers. In the Army discipline comes in many forms and fashions: PRT, drill and ceremony, basic commands given, routine life, training the body, etc. Discipline is something you need to have to live a military life and be successful. Leadership: the position or function of a leader; a person who guides or directs a group; the ability to lead. [Defined by Webster].A leader in the military life is usually the most â€Å"squared-away† soldier. One that had the discipline to know and correct another when one needs help or is the wrong. I feel that when it comes to the military one who is a soldier has to have discipline. You can not be a leader and not have the discipline to lead a group/platoon to success. Leadership means you have the discipline to maintain yourself as well as the rest fo llowing you. Being in a leadership role means that you are capable of leading by direction and following direction at the same time.As a leader you should never have the ones you are leading do something you yourself would not do. You have to lead as being lead. â€Å"Never forget that no military leader has ever become great without audacity. If the leader is filled with high ambition and if he pursues his aims with audacity and strength of will, he will reach them in spite of all obstacles. † As quoted by Karl von Clausewitz. Leadership and discipline go hand and hand in the army. I feel that you can not have one without the other. Along with that goes the Army core values.With the right discipline noticed by the right sergeant/officer you are most-likely to be a leader of a platoon or group given. Both topics are important to the military way of life without these 2 subjects the army would have no foundation. Soldiers in the leadership position guide the platoon to a succe ssful mission. Soldiers with the right discipline tend to lead the mission to victory. Without the 2 come many consequences: loss of rank; money, leadership positions, suspension etc. Personally I feel that a great leader has discipline.Being a leader without discipline you have nothing. Being a good leader to me means that you leave your mark on the ones who follow you. When another leader comes to charge, the soldiers that you have lead will know if that leader is good or not based on the path left behind. â€Å"The final test of a leader is that he leaves behind him in other men the conviction and the will to carry on. † – Walter Lippmann, 1889-1974. A good leader will continue to lead weather they are in a leadership position or not. As said before it is a basic foundation to get the mission completed.The military’s discipline is also know and having military bearing, knowing where to act in accordance. Commissioned officers and officers would have to make s wift decisions in the battlefield that may affect the lives of their soldiers. In a world of chaos, their subordinates are relying on their leaders to make the right decision and trusting that those big decisions made is the best out of all the options given. Leaders should be able to make these big decisions with all his confidence projecting out with his military bearing.A leader should look like a leader, disciplined, confident, and has the skills and abilities to persuade and provide their subordinates with the motivation, direction and purpose so as to accomplish a mission without being easily rattled by problems that arises. One who leads has to have the proper discipline to be a great leader. With these words sergeant who lead me also feel that I’m a great leader with the proper discipline to lead. Duty: Obligatory task, conduct service or functions that arise from ones position; assigned service or business. Defined by Webster]. At each level of authority soldiers hav e certain responsibilities or duties that they must fulfill. Duty begins with everything required of you by law, regulation, and orders but it includes much more than that. A duty is a legal or moral obligation. Duties are assigned at different levels rank for set reasons. As a private or non-NCO you may not hold as many responsibilities compared to an NCO, which can hold numerous amounts of duties that all are required to be fulfilled in a timely manner.Responsibilities: The quality or state of being responsible. [Defined by Webster]. Responsibilities are set to enforce task and make sure they are carried out properly. They are set for a numerous amounts of reasons. Some responsibilities are set to see how well an individual performs under certain task, time limits. Others may be set to get a task or chore done. All of these things combined are qualities that make or break a soldier. If you lack one the possibilities are great that you may lack another.

Tampakan Mining – Case Study

Tampakan Project Sustainability Report 2010 Contents 1 1 2 4 6 10 12 16 20 22 About the Tampakan Copper Gold Project Map of operations Executive General Manager’s message General Manager’s message Targets and Scorecard Scope of the report Our sustainable development strategy and corporate governance Corporate governance and Sustainable Development management system Our economic contributions Case study: Training in high-value crop production boosts income, prepares farmers for Tampakan Project 24Our people and their workplace 24 Employing locally 24 Employee training and education 25 Labor relations 25 Non-discrimination policy 28 29 29 29 29 29 29 29 29 30 31 Safety and Health behavioral based Safety (bbS) Safest mine award Occupational health Health control and services Health and hygiene monitoring First Aid and emergency response Health promotion and awareness Health impact assessment Case study: Hazard reporting Case study: Tampakan Project promotes safety culture inside and out 32 32 32 33 33 33 33 34 34 34 35: 36 37Sustainable communities Corporate Social Involvement Socio-economic sustainability Environment programs Cultural sustainability Stakeholder consultation and engagement Community sustainability management systems Community grievance Free and Prior Informed Consent and resettlement Artisanal and small-scale mining Case study: mobile Community Information and Resource Center Case study: SMI supports innovative education programs Case study: SMI trains barangay health workers 38 38 38 39 39 39 39 40 40 40 40 40 41 42 43 43 43 45 46 47Environmental performance Environmental incidents Reforestation program Environmental Management System Environmental Impact Assessment Water management biodiversity Climate change Waste management Energy Mine closure and rehabilitation Ongoing rehabilitation post mine closure Case study: Training on production of high-quality seedlings Case study: Study on Lake buluan completed Product stewardship Coppe r and Sustainable Development Copper and health Summary of key sustainability data Global Reporting Initiative Index Glossary About Xstrata plcXstrata is a global diversified mining group, listed on the London and Swiss stock exchanges. Headquartered in Zug, Switzerland, Xstrata maintains a meaningful position in seven major international commodity markets: copper, coking coal, thermal coal, ferrochrome, nickel, vanadium and zinc, with additional exposure to gold, cobalt, lead and silver. The Xstrata Group also comprises a growing platinum group metals business, iron ore projects, recycling facilities and a suite of global technology products, many of which are industry leaders. The Group’s operations and projects span 20 countries.About Xstrata Copper Xstrata Copper is the world’s fourth largest copper producer. In 2010, its attributable mined production of copper contained in cathodes and concentrates reached 931,500 tonnes. It is also one of the world’s large st producers of smelter and refined copper, including from third-party materials. Headquartered in brisbane, Australia, Xstrata Copper is one of the commodity business units within the major global diversified mining group, Xstrata plc. Its mining and metallurgical operations and development projects span eight countries: Argentina, Australia, Canada, Chile, PapuaNueva Guinea, Peru, the Philippines and the United States. Its operations and projects are administered through a regional divisional management structure, which ensures that critical decisions are taken close to the related businesses. Xstrata Copper also has a recycling business (Xstrata Recycling) with plants in the United States and offices in Canada and Asia. b TAMPAKAN PROJECT About the Tampakan Copper-Gold Project The Tampakan Copper-Gold Project is located on the southern Philippine island of Mindanao, approximately 40 kilometers north of General Santos City.The Project is situated on the boundaries of four province s: South Cotabato, Sarangani, Sultan Kudarat and Davao del Sur, and represents one of the world’s largest undeveloped copper-gold deposits. The Tampakan Project is a 2. 4 billion metric ton deposit, containing 13. 5 million metric tons of copper and 15. 8 million ounces of gold at a 0. 3 % cut-off grade. The Project is operated by Philippine-based affiliate Sagittarius Mines, Inc. (SMI), whose 40% controlling equity is a joint venture between Xstrata Copper (62. 5%) and Indophil Resources NL (37. %). The 60% non-controlling equity shareholders of SMI are the Tampakan Mining Corporation and Southcot Mining Corporation (known as the Tampakan Group of Companies). SMI submitted the Mining Project Feasibility Study for the Tampakan Project to the Philippine government in April 2010 and is progressing with the Mine and Off-site Environmental Impact Assessments (EIAs). SMI expects to submit the Mine Environmental Impact Statement (EIS) to the government by the second half of 2011. I n December 2010, the Project employed 372 employees and 1,185 contractors.The Tampakan Project is managed by Xstrata Copper and adheres to the Xstrata Group’s industry-leading Sustainable Development (SD) Policy and Standards, business Principles, Code of Conduct and Policy on bribery, Fraud and Corruption. Map of operations Manila Catanduanes Mindoro Masbate Samar Ley te Cebu Negros Palawan MINDANAO Zamboanga Davao Tampakan General Santos SUSTAINAbILIT y REPORT 2010 1 Executive General Manager’s message Xstrata Copper’s Asia Pacific projects made significant progress in 2010, achieving a number of important milestones.The strong recovery in global demand for copper in 2010, together with robust copper prices, enabled Xstrata Copper to finish the year with a solid set of operational and financial results. The business was well positioned to take advantage of these favorable economic conditions as a result of the actions taken by our management teams during 2009 in response to the global financial crisis, including prudent cost reductions in the context of an unwavering focus on sustainable development and on our growth strategy.Xstrata Copper’s commitment to sustainable development remained firm in 2010 and was reflected in the 22 national and regional awards presented to our sites during the year for excellence in this field. At the Group level, Xstrata retained its position as Mining Sector Leader on the Dow Jones Sustainability Index in 2010/11, for the fourth consecutive year, and was named as the Super Sector Leader for basic Resources industries. As part of the Xstrata Group, the principles of sustainable development are integral to our business model and guide our daily decision-making.We take a systematic approach to setting targets, monitoring performance and reporting, both internally and externally, against our sustainable development policy, standards and targets. Throughout the year, our sustainable development performa nce was closely monitored and evaluated by the Xstrata Copper Sustainable Development Committee. Our sites also participated in a range of internal and external audits to provide assurance against the sustainability standards of Xstrata Copper and those of the Xstrata Group.Following an annual review of our management policies, we launched an integrated Xstrata Copper Sustainable Development Policy in May which: strengthened our published position on human rights; improved the alignment between the policy objectives of the Xstrata Group, Xstrata Copper and our operations; and simplified our overall sustainable development framework. Due to the significant advancement of our project development pipeline, in early 2010 Xstrata Copper restructured the organization of our project development activities to capitalize on our regional synergies in South America and Asia Pacific.Under the new structure, Executive General Manager – Project Development South America, bob Drabik, assume d responsibility for the development our Antapaccay, Las bambas and El Pachon projects in Peru and Argentina. As Executive General Manager- Project Development Asia Pacific, I retained responsibility for the Tampakan project in the Philippines and Frieda River project in Papua New Guinea. Our Asia Pacific projects made significant progress in 2010, achieving a number of important milestones. In April, the Tampakan project submitted its Mining Project Feasibility Study to the Philippine government.The project also completed its mine site Environmental Impact Assessment (EIA) in December, for public consultation and submission during 2011. In addition, the project commenced the EIA process for its offsite infrastructure, including the port, power station, filter plant, transmission lines and pipelines, in the second half of the year. The Frieda River project delivered its pre-feasibility study in October 2010 and commenced a drilling program and technical studies for a feasibility stu dy which is TAMPAKAN PROJECT scheduled for completion in January 2012. The project also continued to undertake extensive environmental baseline studies and stakeholder engagement activities for its ESIA which is scheduled for completion in 2011. The health and well-being of our employees, contractors and visitors continued to be a key priority for the Asia Pacific projects throughout the year. In 2010, the projects achieved their Lost Time Injury Frequency Rate (LTIFR) target of