BHP Billiton, Rio Tinto and Xstrata continue tax campaign
Rio Tinto worried Australian tax may give other countries ideas Prime Minister Kevin Rudd’s proposed ‘super tax’ on miners is still causing the industry to vent its collective spleen in anger. Xstrata have added to the list of companies promising to cancel expansion if the tax pushes through. Rio Tinto is one of the latest [...]
Rio Tinto and BHP Billiton pile tax pressure on Australian PM
BHP quoted saying mining tax lowers value of Rio JV BHP Billiton chief executive Marius Kloppers said the Australian government’s proposed mining tax has cut the value of its proposed Pilbara iron ore merger with Rio Tinto, a newspaper reported. See http://www.mineweb.com/mineweb/view/mineweb/en/page504?oid=105203&sn=Detail&pid=92730. BHP could increase investments in Latin America due to Australian tax proposal Multinational [...]
Australian mining ‘super tax’ has miners running
Prime Minister Kevin Rudd’s proposed ‘super tax’ on miners has certainly got the companies raging. Like rich celebrities in a UK election, they are threatening to leave the country if they are over-taxed. Shares of mining giants BHP Billiton and Rio Tinto tumbled after the Australian government proposed a new 40 percent tax on the [...]
Tanzania faces industry opposition to its new mining law
After being criticised for failing to implement a mining bill that would bring greater benefit to the country, the Tanzanian government has now passed the law which increases both the royalty on minerals and ensures a government stake in future mining projects. The mining industry has been less than impressed. The Tanzania Chamber of Minerals [...]
Sierra Leone Agreement with UK miner is “illegal”
NGOs slam concessions granted to London Mining plc Peoples’ organisations in Sierra Leone are up in arms about unacceptable, allegedly illegal concessions, conferred on a UK mining company. They say it threatens to derail the country’s existing mining legislation. See http://www.minesandcommunities.org/article.php?a=10059.
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