MINING giant BHP Billiton has quietly opened a second front in its battle to prevent other miners from accessing its Pilbara iron ore railways, putting it in direct confrontation with the state government.
A REVIEW of the Western Australian mining sector suggests less than 20 local companies will be liable to pay the 30 per cent tax on coal and iron ore profits by 2014, the point at which the federal government expects its tax take to yield $10.5 billion.
WESTERN Australia will need only eight megawatts of additional electricity generation capacity by mid 2013 to meet forecast demand, according to the Independent Market Operator’s latest statement of opportunities.
GRANGE Resources is eyeing a significant increase in the scale and cost of its proposed $2 billion Southdown magnetite project near Albany to offset the negative impact of the Rudd government’s planned resource super profits tax.
THE findings of a two-year Senate investigation into Australia’s long-term energy needs will be deferred to allow a committee to quiz Treasury secretary Ken Henry over the planned resource super profits tax.
Fresh industry research has further undermined the federal government's justification for its proposed resource super profits tax, identifying major flaws in the economic modelling used to support the tax.
The Rudd government’s commitment to the resource super profits tax rests on its faith in tax architect Ken Henry. But holes in even some of the simplest statements by the Treasury chief have cast doubt over the assumptions underpinning the tax.
PRIME Minister Kevin Rudd need only speak to Grange Resources managing director Russell Clark for a first-hand account of how the proposed resource super profits is already affecting the mining industry.