Rio runs with risk
May 24, 2010 (The Age - ABIX via COMTEX) -- Opposition by the mining sector is growing to the Australian Government's proposed new 40% resources rent tax in response to the Henry taxation system review.
Tom Albanese, CEO of Rio Tinto, has gone so far as to allege that the new measure increases sovereign risk for the company's Australian projects above that faced in unstable Third World nations such as Guinea, Mongolia or Madagascar. Federal Treasurer Wayne Swan has rejected that statement as part of a fear campaign waged by the resources industry.
Publication Date: 25 May 2010
RIO TINTO LIMITED - ASX RIO
BHP BILLITON LIMITED - ASX BHP
AUSTRALIA. DEPT OF THE TREASURY
KPMG AUSTRALIA PTY LTD
NATIONAL BUREAU OF ECONOMIC RESEARCH
UNITED STATES. CENTRAL INTELLIGENCE AGENCY
INTERNATIONAL MONETARY FUND
Copyright 2010 LexisNexis Australia. All Rights Reserved.
Posted 05:47 PM ET
Tom Albanese, CEO of Rio Tinto, has gone so far as to allege that the new measure increases sovereign risk for the company's Australian projects above that faced in unstable Third World nations such as Guinea, Mongolia or Madagascar. Federal Treasurer Wayne Swan has rejected that statement as part of a fear campaign waged by the resources industry.
Publication Date: 25 May 2010
RIO TINTO LIMITED - ASX RIO
BHP BILLITON LIMITED - ASX BHP
AUSTRALIA. DEPT OF THE TREASURY
KPMG AUSTRALIA PTY LTD
NATIONAL BUREAU OF ECONOMIC RESEARCH
UNITED STATES. CENTRAL INTELLIGENCE AGENCY
INTERNATIONAL MONETARY FUND
Copyright 2010 LexisNexis Australia. All Rights Reserved.
Posted 05:47 PM ET
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