Posted in | News | Iron Ore | Mining Business

Tom Albanese Confident on Mining Tax Resolution

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.

Joel Scanlon

Written by

Joel Scanlon

Joel emigrated to Australia in 1995 and worked for five years in the mining industry as an exploration geotechnician, using GIS mapping and CAD software. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm. After that, he ran a successful business providing web services to businesses along the eastern seaboard of Australia. During this time, he developed and launched News-Medical.Net. Joel has been working with AZoNetwork since the company was founded in 2000.

Citations

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

  • APA

    Rio Tinto plc. (2019, March 19). Tom Albanese Confident on Mining Tax Resolution. AZoMining. Retrieved on October 01, 2022 from https://www.azomining.com/News.aspx?newsID=878.

  • MLA

    Rio Tinto plc. "Tom Albanese Confident on Mining Tax Resolution". AZoMining. 01 October 2022. <https://www.azomining.com/News.aspx?newsID=878>.

  • Chicago

    Rio Tinto plc. "Tom Albanese Confident on Mining Tax Resolution". AZoMining. https://www.azomining.com/News.aspx?newsID=878. (accessed October 01, 2022).

  • Harvard

    Rio Tinto plc. 2019. Tom Albanese Confident on Mining Tax Resolution. AZoMining, viewed 01 October 2022, https://www.azomining.com/News.aspx?newsID=878.

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
Your comment type
Submit