The upcoming Australian Federal elections may decide the fate of the controversial mining law in Australia.
While mining industry heads do not wish to publically politicize the situation, they are privately hoping for a change of government. The heads of the mining majors have said that they will negotiate the issue with whichever party forms the government.
However it is in their interests for the change of government to take place if they are to maximize their profits. The poll on August 21, 2010 may well decide the future of the mining law besides that of the government.
While the revised mining tax of Prime Minister Gillard has been seen as a major step towards a reconciliatory truce, the mining industry would be hoping not to have to deal with the mining tax changes at all. A win for the coalition will sabotage the tax as surely as anything else.
BC Iron managing director Mike Young said that the campaign against the tax would continue during the election and he expected an organized approach from the mining sector. In light of the current mood if the mining industry has a say in it, the polls will see a change of government.