According to data provided by a model produced by KPMG on the mining industry the proposed RSPT from the federal government will make the mining companies in Australia pay 42% higher tax rates than the global average.
By Joel Scanlon
14 Jun 2010
There is a new critic from the mining industry over Australian Prime Minister Kevin Rudd's proposed 40% RSPT.
The Australian Prime Minister Mr. Kevin Rudd is used to defending his government’s proposed policies as was evident in the health reform case. It seems it will be no different in case of the mining industry with th...
By Joel Scanlon
10 Jun 2010
Making another attempt to hit out at the Resources Super Profits Tax in Australia, mining giant BHP Billiton sent out a letter to shareholders pointing out a supposed flaw in the law.
Queensland Alumina Ltd pleaded guilty yesterday to causing serious environmental harm after an industrial incident in a Gladstone alumina refinery last year. The court has fined the company $90,000 plus $20,000 in costs.
By Joel Scanlon
9 Jun 2010
Chalco's denial of its alleged pull out of the deal to set up a bauxite refinery at Aurukun in North Queensland over the resources super tax may be more than posturing. The viability of the project has been doubted for more than 12 months within the company.
By Joel Scanlon
9 Jun 2010
According to economic forecaster BIS Shrapnel, mining and heavy industry construction, which accounts for one third of Australia’s A$25 billion ($21 billion) building sector, is expected to drop 3 percent in the 12 months ending June 30, 2011.
By Joel Scanlon
9 Jun 2010
Australian Securities and Investments Commission (ASIC) acting chairman Belinda Gibson has made it clear that the ASIC will not take kindly to miners who are exaggerating the impact of the mining super tax (RSPT) on their projects.
A community cabinet meeting in Western Australia in Perth last night gave Prime Minister Kevin Rudd a chance to answer concerns over the new mining super profits tax. There were protests with placards at the community ca...
The Australian Prime Minister Kevin Rudd is getting concerned about the mining industry and this is reflected in his secret meeting with Marius Kloppers, the BHP Billiton boss.
Jillian Broadbent, a member of the Reserve Bank Board feels that the Australian government’s proposed resource super profits tax is going to affect the mining sector besides the rest of the economy and 'shake u...
By Joel Scanlon
9 Jun 2010
The planned mining tax would adversely affect the OneSteel mill which is a major employer in Ms Breuer’s Whyalla region.
On Tuesday Newcrest released a statement saying that it has completed the due diligence process to takeover its rival Lihir Gold Ltd. Lihir must now contribute to the proposed merger of the two companies by entering a exclusivity period with Newcrest.