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Australian government vacillation lifts country’s mining risk profile as miners fight their way back

By: Esmarie Swanepoel The Australian mining sector has seen a revival in investment after newly appointed Prime Minister Julia Gillard scrapped the disastrous super profits tax proposed by her predecessor, Kevin Rudd. Rudd had suggested a 40% tax on what the government labeled “super profits”, which would have... 

Don't tinker with Australia mine tax – reform boss

By: Reuters Australia risks turning its new mining tax into a net tax subsidy for resource companies if it bows to miners' demands to change the way the impost is calculated, the architect of the scheme said on Tuesday. Ken Henry, the government's top treasury official, warned of the perverse outcome in a... 

Western Australia rules out royalty hike for gold miners

By: Esmarie Swanepoel Western Australia mining representative bodies on Thursday welcomed Premier Colin Barnett’s decision to maintain gold royalties at their current levels. This comes as Barnett announced in Parliament on Wednesday that he would not increase gold royalties in this year’s budget. 

AngloGold won’t split operations in near future – Cutifani

By: Esmarie Swanepoel South Africa-based gold-miner AngloGold Ashanti does not plan to split its operations into two separate entities in the near future, CEO Mark Cutifani said on Monday. Speaking to journalists in Perth, he also dismissed speculation that AngloGold Ashanti was looking to merge with South Africa’s... 

Outgoing BHP chair cautions against tax changes

By: Esmarie Swanepoel Outgoing BHP Billiton chairperson Don Argus has called on governments to approach tax reforms with caution. In his final letter to BHP shareholders before his retirement at the end of the month, Argus said that governments play a key role in spurring productivity, encouraging investment and... 

W Australia opposes resources rent tax – Moore

By: Esmarie Swanepoel The Australian federal government’s proposed review of resources royalties would threaten Western Australia’s income, Western Australia Mines and Petroleum Minister Norman Moore said on Tuesday. This comes after Australian media widely reported that Treasury chief Ken Henry is proposing to... 

Daily podcast – February 17, 2010

By: Shannon de Ryhove Australia's resource industry is urging the government to rule out a new tax on big miners; and President Jacob Zuma reiterates that nationalisation of South Africa's mines isn't government policy. 

Daily podcast – January 27, 2010

By: Shannon de Ryhove Australia's government has not yet decided what recommendations it will adopt from a report proposing major tax reforms; and Anglo Coal is looking to grow its thermal coal business. 


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