MARKET TALK: Aussie Mining Lobby Launches New Ad Blitz

16th Jun 2010 02:44

0144 GMT [Dow Jones] Minerals Council of Australia launches next leg of campaign against government's proposed 40% mining profits tax: tv ad blitz featuring "real" Australians affected by the tax uncertainty. Perhaps seeking to downplay last week's protest in Perth--where some of Australia's richest mining magnates including Fortescue's (FMG.AU) Andrew Forrest turned out in work gear to pan the tax--latest ads directed at working families government counts as its most solid support base. Comes amid increasing speculation government could be close to brokering a deal with some sectors of industry, including coal-seam methane, but as the gulf between government and BHP Billiton (BHP.AU) and Rio Tinto (RIO.AU) is as wide as ever. In a sign of importance government placing on efforts to shut down debate, which is damaging its fortunes in voter polls, Energy Minister Martin Ferguson has canceled plans to attend a meeting of APEC counterparts in Japan this week to continue tax negotiations. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires June 15, 2010 21:44 ET (01:44 GMT)