Aussie Mining Giants Happy with New Tax Proposal

The big mining companies in Australia have been expressing their approval of the government's cut in the proposed Resources Super Profits Tax. The new compromise tax has been redesigned and renamed under Prime Minster Julia Gillard to be rendered acceptable to the mining industry 'giants'.

The federal government's announcement of the Mineral Resource Rent Tax as it is being called now, has been met with approval by BHP Billiton, Rio Tinto and Xstrata. All of them were actively involved in the anti mining tax campaign which led to the departure of previous prime minster Kevin Rudd.

The reduction of the mining tax to 30% from the earlier proposed 40% has been termed as encouraging by BHP Billiton. Chief Executive Marius Kloppers feels there is still a lot of work to be done, but the international competitiveness of the Australian resources industry will not be compromised in the future.

David Peever, managing director of Rio Tinto Australia found the announcement of the government an important step towards tax reforms which would help Australia's iinternational competitiveness as an investment destination.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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