Miners welcome revised Aussie resource tax
2nd Jul 2010 07:03
London-listed mining heavyweights BHP Billiton, Rio Tinto and Xstrata are “encouraged” by the Australian government’s decision to replace the controversial Resources ‘Super Tax’ with a more moderate alternative. In a joint statement, the trio welcomed a new Mineral Resource Rent Tax (MRRT) that wou
Read moreMARKET TALK: Still A Long Way To Go For Australian Mining Tax
2nd Jul 2010 06:58
0558 GMT [Dow Jones] It is not surprising that Australian government's mining super-tax has not progressed in its original form, says a trader, considering the criticism directed towards it. Thinks now that the Australian government has negotiated a reduction in the headline rate to 30% from 40%, i
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
2nd Jul 2010 06:58
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0558 GMT [Dow Jones] It is not surprising that Australian government's mining super-tax has not progressed in its original f
Read moreINTERVIEW: Atlas Iron Says Proposed Tax Won't Benefit Whole Industry
2nd Jul 2010 05:52
By Stephen Bell Special to DOW JONES NEWSWIRES PERTH (Dow Jones)--Atlas Iron Ltd. (AGO.AU) said Friday that the Australian government is "naive" if it believes a tax deal hammered out this week with some of the world's largest miners is a good result for the whole industry, including small
Read more3rd UPDATE: Australian Government Unveils Major Changes To Mining Tax
2nd Jul 2010 04:28
(adds comment from analysts, Australian Industry Group and detail on Xstrata's Wandoan project) By Alex Wilson and Rachel Pannett Of DOW JONES NEWSWIRES CANBERRA (Dow Jones)--The Australian government announced sweeping changes to its planned new mining tax Friday, making major concess
Read moreMARKET TALK: S&P/ASX 200 Up 0.1%; Miners Sold On Rally
2nd Jul 2010 04:14
0314 GMT [Dow Jones] S&P/ASX 200 up 0.1% at 4243.2, fades from 4281.6 high as miners were sold on the rally because global macro concerns have eclipsed relief over the significant dilution of the proposed mining tax. BHP (BHP.AU) up 0.4% at A$37.24 from A$37.76 peak. Rio (RIO.AU) up 0.5% at A$65.45
Read moreAustralia's New Mining Tax Will Affect Only A Handful Of Companies
2nd Jul 2010 02:47
SYDNEY (Dow Jones)--The government's revised Minerals Resource Rent Tax released Friday greatly reduces the number of mining companies affected by the new tax compared with that of the original proposal. The plan will apply only to iron ore and coal and be applied at a rate of 30%, as opposed to
Read moreMARKET TALK: Aussie Tax Change Good News For Miners -RBS Morgans
2nd Jul 2010 02:22
0122 GMT [Dow Jones] RBS Morgans lists beneficiaries of Australian government dumping proposed resources super profits tax in favor of mining resources rent tax, in descending order, as ERA (ERA.AU), OZ Minerals (OZL.AU), Alumina (AWC.AU), Newcrest (NCM.AU), OM Holdings (OMH.AU), Iluka (ILU.AU). See
Read moreMARKET TALK: Australian Mining Stocks Bounce On Tax Deal
2nd Jul 2010 02:11
0111 GMT [Dow Jones] Australian mining stocks getting a good boost from the announcement of changes to the government's planned mining tax, although how long this can be sustained in face of global headwinds remains to be seen. The government has made major concessions to the industry, cutting the h
Read moreAustralia Minerals Council: New Mine Tax A Positive Outcome
2nd Jul 2010 01:19
CANBERRA (Dow Jones)--Australia's peak mining lobby, the Minerals Council of Australia, on Friday welcomed sweeping changes to a government plan to tax mining sector profits but noted there is more work to be done. The council, which counts larger and small miners among its members, had been a v
Read moreAustralia PM: Meeting With Reserve Bank Of Australia Governor Later Friday
2nd Jul 2010 01:01
MELBOURNE (Dow Jones)--Australia's Prime Minister Julia Gillard said Friday she will travel to Sydney later in the day, where she will meet with Reserve Bank of Australia Governor Glenn Stevens. Asked what she thought about speculation that interest rates could drop, Gillard said: "I don't specu
Read more2nd UPDATE: Australian Government Unveils Major Changes To Mining Tax
2nd Jul 2010 01:01
(adds further detail and comment from Australian Prime Minister, BHP Billiton, Xstrata and Rio Tinto) By Alex Wilson and Rachel Pannett Of DOW JONES NEWSWIRES CANBERRA (Dow Jones)--The Australian government announced sweeping changes to its planned new mining tax Friday, making major c
Read moreBHP Billiton Says Encouraged By Resources Tax Changes
1st Jul 2010 23:47
MELBOURNE (Dow Jones)--BHP Billiton Ltd. (BHP.AU) said Friday it is encouraged by the Australian government's revised mining tax, which addresses many of the miner's main concerns with the original proposal. The government has narrowed the focus of the tax to the iron ore and coal sectors, reduc
Read moreUPDATE: Australian Government Unveils Major Changes To Mining Tax
1st Jul 2010 23:36
By Alex Wilson and Rachel Pannett Of DOW JONES NEWSWIRES CANBERRA (Dow Jones)--The Australian government announced Friday a reworked version of its planned new mining tax, featuring major concessions to the mining industry including a reduction in the headline rate of the tax to 30% from 40
Read moreAustralia Government Deal Struck With Miners On Resource Tax
1st Jul 2010 23:01
CANBERRA (Dow Jones)--The Australian government announced Friday a reworked version of its planned new mining tax, featuring major concessions to the mining industry including a reduction in the headline rate of the tax to 30% from 40%. The government has also excluded all commodities from the t
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