Government, Regulatory
Road to recovery for Australia’s resources sector
Australia’s international reputation as an attractive destination to invest in mineral exploration and development projects has been significantly tarnished since the Resource Super Profits Tax (RSPT) was first announced on May 2nd.
WA Index continues downward trend in June
For the month of June, the market capitalisation of Western Australian listed companies which comprise the Deloitte WA Index decreased by $2.9 billion finishing the financial year at $140.9 billion - its third successive month of decline.
Tax deal with miners too good to be true?
The Federal Government has produced some details of the revised economic forecast it used in arriving at its compromise with miners over an impending resources rent tax.
Tax compromise good for miners but not wider business community
Professional services firm, Deloitte, has welcomed the Federal Government’s remodelled mining rent tax and the expansion of the scope of the Petroleum Resource Rent Tax (PRRT), which it believes will aid expansion.
Government may make further concessions to iron ore miners
The Government’s new framework for mining taxation has received a wide range of responses from the industry mostly in cautious support for the plan. It has also been reported that the Government’s ongoing consultation with industry may result in further concessions.
Gillard’s tax changes appease major miners
Prime Minister Julia Gillard announced that discussions with major mining sector players have resulted in a significant reworking of the original Resource Super Profits Tax (RSPT).
Gillard’s tax changes appease major miners
Prime Minister Julia Gillard announced that discussions with major mining sector players have resulted in a significant reworking of the original Resource Super Profits Tax (RSPT).
FMG reveals framework for deal with Rudd
In a speech on June 29th, Fortescue Metals Group (FMG) CEO, Andrew Forrest, said Julia Gillard must ensure her Government achieves a substantially improved position on aspects of the proposed mining tax compared with that reached with the former Prime Minister.
Feature: Lead up to the tax deal on mining's 'super profits'
Former Prime Minister Kevin Rudd said the night before his stepping down that tax reform is never easy. When he first introduced plans to reform Australia’s tax system, Rudd along with Treasurer Wayne Swan pre-empted a backlash from the mining industry. And they were not disappointed.
Feature: What now for the tax on mining’s super profits?
Former Prime Minister Kevin Rudd said the night before his stepping down that tax reform is never easy. When he first introduced plans to reform Australia’s tax system, Rudd along with Treasurer Wayne Swan pre-empted a backlash from the mining industry. And they were not disappointed.
Will leadership change mean changes to proposed mining tax?
That’s the question everyone in the industry will be asking after Julia Gillard was announced as Australia’s new Prime Minister on June 24th, with Kevin Rudd standing down in the face of defeat at a special caucus meeting.
China tapped for $11 billion resources investment
China is to pour about $11 billion into Australia's port, rail and mining projects in a deal signed on June 21st by Prime minister Kevin Rudd and China’s vice president Xi Jinping.
New State agreements with iron ore majors
After twelve months of discussions the WA Government has reached an historic new agreement with BHP Billiton and Rio Tinto about iron ore royalties for fines and the development of the Pilbara iron ore industry.
Majors appeal to shareholders on government tax plan
The chairman of BHP Billiton, Jac Nasser, has again issued a letter addressed to shareholders, designed to keep them informed of the company’s concerns about the proposed new mining tax.
Government holding firm on mining super tax proposal
Prime Minister Kevin Rudd has told the media that the Government needs to “hold its nerve and show unity” in regard to the Resource Super Profits Tax which he called a “difficult and hard reform”.
Approvals Alliance to fast-track project approvals
An innovative new service has been launched to help Western Australian infrastructure and resource projects cut through the regulatory clutter to achieve project approvals in a timely and cost-effective manner.
Industry responses to State Budgets: NSW and QLD
Rocketing royalty payments from the mining industry will dig the NSW Budget out of deficit, and show that in Queensland the sector is paying its fair share, according to industry groups.
Assumptions of RSPT may not stack up in the real world: study
A report commissioned by the Minerals Council of Australia (MCA) and produced by KPMG, has found that the proposed Resource Super Profits Tax (RSPT) could lead to mining companies deferring or cancelling Australian projects in the short to medium term.
South Australian mining industry fears being stranded by new tax
South Australia’s peak mining lobby says up to A$40 billion worth of mining projects could potentially be left stranded because of the Federal Government’s proposed Resource Super Profits Tax (RSPT).
Coal industry says rail bid ‘ticks all the boxes’ but AMWU disagrees
The Queensland Coal Industry Rail Group’s $4.85 billion cash offer for the central Queensland coal track network ‘ticks all the boxes’ according to the Queensland Resources Council.
