Australian super tax announcement rocks mining industry

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Wed, 05 May 2010 12:44p.m.

Some companies are already pulling out of future mining projects

Some companies are already pulling out of future mining projects

The Australian share market has been hit hard by the Government’s announcement of a 40 percent tax on super profits made by the mining industry.

Some mining companies are already threatening to halt future projects.

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Comments

08 May 2010 10:09a.m.

Lightseed wrote:

And what is suspicious about it R? Australia is putting a higher tax on mining and diverting it into their super fund, damn good idea.

05 May 2010 09:51p.m.

Glocks wrote:

@ R: To mine what exactly? The massive deposits of uranium that we DON'T have? I'm all for conspiricy theories, but keep it sensible people!

05 May 2010 02:24p.m.

R wrote:

sounds suspicous, might aus and nz governments come to some hidden agreement to slow down mining in aus and divert the equipment and personel necessary to nz, to mine here??