Tom Albanese Chief Executive Officer of Rio Tinto said that the company was confident that the Australian mine tax issue would be resolved soon. He expects the government's transition committee to put the finishing touches to the proposed mining tax and work through any remaining disagreements.
Mr Albanese was speaking on Australian Broadcasting Corp.'s Inside Business program when he said that he had the utmost confidence that the Gillard government would honour the spirit of the modified mining tax agreement that it had signed with BHP Billiton, Xstrata and Rio Tinto in July this year.
There were media reports earlier that the three mining giants were thinking of going back on the deal because of the rumour that the government is seeking to renege on an undertaking to refund future increases in state royalties to the miners.
Mr Albanese also said the agreement signed in July had allowed Rio Tinto to go ahead with $6 billion in iron ore investments in the country. The tax details are currently being worked out by a policy transition group led by the Resources Minister, Martin Ferguson, and former BHP chairman Don Argus.