OneSteel Says MRRT OK

OneSteel says that the government’s proposed Minerals Resource Rent Tax or MRRT won't negatively affect Whyalla steelworks. Geoff Plummer, Chief Executive for OneSteel is however negotiating for a more simplified deal.

The company is looking forward to working out ways with the government to ensure that there are no unintended consequences to face. Mr. Plummer also felt that the MMRT was a significant improvement on the RSPT. Improvements being the taxing point for iron ore, allowable costs when calculating profit and how to determine the market value of existing assets. Mr. Plummer looked forward to the growth of the south Australian mining economy now that the tax matter had been all but settled.

OneSteel is a fully integrated, global manufacturer and distributor of steel and finished steel products, self-sufficient in both iron ore and scrap metal, with revenues in excess of $6 billion Australian dollars.

OneSteel's major manufacturing facilities are located in Whyalla, South Australia, Melbourne, Victoria, Western Sydney and Newcastle, New South Wales and Brisbane, Queensland. Smaller manufacturing and distribution facilities are located throughout regional Australia.

Joel Scanlon

Written by

Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    OneSteel Ltd. (2019, March 19). OneSteel Says MRRT OK. AZoMining. Retrieved on September 20, 2019 from https://www.azomining.com/News.aspx?newsID=104.

  • MLA

    OneSteel Ltd. "OneSteel Says MRRT OK". AZoMining. 20 September 2019. <https://www.azomining.com/News.aspx?newsID=104>.

  • Chicago

    OneSteel Ltd. "OneSteel Says MRRT OK". AZoMining. https://www.azomining.com/News.aspx?newsID=104. (accessed September 20, 2019).

  • Harvard

    OneSteel Ltd. 2019. OneSteel Says MRRT OK. AZoMining, viewed 20 September 2019, https://www.azomining.com/News.aspx?newsID=104.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit