The Australian Senate has pushed through into law a 30% tax on iron ore and coal mining companies. The tax will raise A$10.6bn ($11.2bn, £7bn) over three years from major companies including BHP Billiton, Rio Tinto and Xstrata.
See http://www.bbc.co.uk/news/business-17441170.
See also: Court threats loom as Australia’s mining tax passed http://www.google.com/hostednews/afp/article/ALeqM5hymTU1FJTqrQfMtQ0z2PXP2IzOygdocId=CNG.9fd2e1098c02c3cc04099ac8d7f2e9e9.11.