ireckon's blog

The Mining Tax – A personal view

Submitted by ireckon on Wed, 06/16/2010 - 10:58
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Being so closely involved with the mining industry, I naturally read all of the press and am across the industry briefings that outline the problems with the RSPT as proposed. 

The message from Marius Kloppers, CEO of BHP, and other mining chiefs is quite clear.  They are unhappy with the 40% rate of the proposed tax, that it applies to existing projects, the threshold of the 10 yr bond rate (around 6%) applied to the book value rather than the market value of projects,  and the lack of differentiation between commodities.  The process by which t

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