December 22nd, 2010

CME welcomes mining tax changes but magnetite miners not so pleased

Proposed changes to the Minerals Resource Rent Tax have been welcome by the WA Chamber of Minerals and Energy.

The Federal Government’s Policy Transition Group or P-T-G has recommended 94 changes to the proposed tax.

They include crediting state royalty payments against the MRRT due to the Commonwealth and calculating the tax due when the ore is dug out of the ground rather than when it’s sold.

CME Chief Executive Reg Howard-Smith says while the Chamber doesn’t want a new tax, if the tax is imposed, the recommendations are a good base for further negotiations.

West Australian magnetite miners say they are disappointed with proposed changes to the Minerals Resource Rent Tax.

©Australian Broadcasting Corporation

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