The government has given the mining industry nearly everything it wants — and dramatically slashed the rate that would have applied under the RSPT.
Mining industry
7 million advertising dollars worth its weight in coal
The mining industry invested at least $7 million in TV and radio advertisements for their PR war against the government’s mining tax. It was money very well spent, says Julian Lee.
Done deal: Gillard’s mining tax compromise
Daily Media Wrap: It was the compromise we had to have, with Julia Gillard announcing this morning the government’s new deal with the mining industry.
Miners ruthlessly slayed Rudd
Corporations shouldn’t control our nation, yet the mining bigwigs played an important part in ousting Kevin Rudd from the prime ministership. Let’s not let it happen again, writes Peter Menadue.
Miners not interested in compromise: coal industry source
While there is speculation of a Government compromise on the RSPT, the mining industry has made clear it doesn’t want any deal, even on the most generous terms, according to a senior coal industry source.
Mining: not that great for indigenous Australia
Much of the talk around the RSPT and the mining industry is about how valuable mining is to indigenous communities. But that depends on what you define “progress” as, says Sarah Burnside.
Apples and oranges: the tax is a matter of ROCE
The debate on the RSPT, to date, is not getting to the heart of the matter. For whatever reason, the wrong financial metrics are being used, says Munif Mohammed.
Part 2: How profitable is mining?
Possum Comitatus continues his exploration of mining industry and its profits. Apparently only 51% of mining companies were profitable in 2008-09, the lowest of all industry.
How profitable is mining?
In light of the RSPT, Possum Comitatus takes a look at the mining industry. Mining makes up 1.3% of all jobs in the economy and has the highest profit margin of any industry.
Is it not true that the minerals are owned by the people of the State?
Australia’s not the only country fretting over how a country’s resources should be taxed, with questions being raised in India about how much mining companies should pay when mining in areas of immense poverty, writes Shakira Hussein.
RSPT rumour file
Here we go again — more rumours that the government is about to cave-in on the RSPT. Too bad they’re not true.
Won’t someone think of the billionaires?
Daily Media Wrap: Kevin Rudd was faced yesterday with 2000 RSPT protesters, led by billionaire miners Andrew “Twiggy” Forrest and Gina Rinehart. Was commie Rudd scared into submission?
If Rudd’s a slave to opinion polls, then surely he’ll back down on RSPT
Recent polls indicate that if an election were held now Labor would be swept from office. If politics is like a giant game of rock, paper, scissors, to Kevin Rudd, opinion polls will always beat paper and rock.
Savva: How Abbott can win
Tony Abbott needs to drop the “miners are paying enough tax” line. If he wants to prove his PM credentials, he should broker an agreement with the miners, writes Niki Savva.
Truth suffers in the RSPT war
Many mining companies may be inefficient and poorly managed, however, unlike banking it is not a sector that generally relies on substantial government assistance.
Tax havens and cosy deals: the Xstrata story
Mining multinational Xstrata has a real aversion to tax. While Rio and BHP might be every bit the lying multi-national bullies that Xstrata is, at least they’re actually genuine mining companies.
Rudd fights the mining bigwigs: who’ll win?
Daily Media Wrap: The mining tax has become a sore spot for Kevin Rudd. Should he stop the whinging and start negotiating, or stand strong against the miners?
Life’s a party in Minerals Week, where everyone misses the point
Yeah! Let’s celebrate! It’s Minerals Week and the rent-seekers are in town! W00t! What a deeply depressing place parliament house is this week, swarming with mining executives.
Five reasons why the RSPT wasn’t thought-out too well
Australia already has a lower company tax rate than the United States and Japan. And ironically, the only real winners from a reduction in the company tax rate are foreign investors.
Forrest has a bit each way on China’s role
Andrew Forrest’s hypocrisy in criticising the federal government’s resource tax — and claiming it could lead to a flood of Chinese buyers — has been underlined by news of his own China dealings.
Kohler: Rudd royally robbed ‘em
Why didn’t the government chat to the mining industry before the RSPT was announced? It’s changing the game rules of what taxes and royalties are, says Alan Kohler.
Who is the real beneficiary of the campaign against the RSPT?
Talk this week of a compromise on the RSPT turned out to be wrong, but check out who would really benefit from the sort of deal being pushed by vested interests
Shanahan: ALP lacks RSPT for voters
Senior Labor MPs are privately acknowledging the possibility of losing the election and the RSPT may be the election decider, says Dennis Shanahan.
Don’t look at what the miners say, look at what they do
That credibility gap between what the miners say and what they do just got $4.85b wider, thanks to the Queensland coal industry, says Glenn Dyer and Bernard Keane.
