Turnbull: Cough up the facts, WayneLabor’s so-called super profits tax was slashed shortly after Julia Gillard took office. But exactly how much revenue did the government forfeit to please big business? It’s time for Wayne Swan to give us the facts, writes Malcolm Turnbull.
Mining
Brown goes bush to support farmers in a fight for land
The stakes in a farmer versus miner battle were lifted into the federal political arena yesterday, as Bob Brown challenged Julia Gillard to stop a proposed coal mine that local farmers claim would ruin their prime farm land, writes Amanda Gearing.
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.
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.
Business As Usual: RBA — as you were … Share market fall here the worst May result for 26 years …
It’s a case of wait and see for the Reserve Bank, a rate rise is, however, on the cards in Canada, the share market fall here was the worst May result for 26 years, and other business news.
A global mining tax?
The controversial RSPT may still be under debate in Australia, but other countries — Brazil, Canada, Peru, Chile etc — may adopt similar schemes, reports Bloomberg.
Mining firmly on the agenda, so why is the ASX censoring fair comment?
Chairman Gary Morgan was upset at the super tax Tuesday’s special meeting of shareholders in Melbourne, and let the meeting know his feelings — but the ASX are refusing to release his address.
How much will the RSPT hurt your super? About $57 — and falling
The superannuation industry has savaged opponents of the Government’s Resources Super Profit Tax, dismissing claims it would harm superannuation holders. They say it will only cost $57 to the average superannuation account.
Mayne: Mining slug mainly hits multinationals, so who cares?
The new mining tax is a good initiative by the Rudd government. Tony Abbott should get behind a move that slugs huge foreign companies but benefits little Aussie battlers.
Miners slugged with 40% tax on profits
The resources sector will be hit with a 40% tax on super profits in order to fund the Government’s changes to corporate taxes and superannuation reform, writes Patrick Stafford.
The myth of the mining boom
One minute Australians are loving the mining boom, the next they are claiming it’s an under taxed industry and its success drags other industries down. Not fair! argues Mitchell Hooke from the Minerals Council of Australia.
International wetlands body investigates PNG pollution
An international body is investigating acute toxic pollution and a PNG government-approved plan for a $15.6 billion mining project at Lake Kutubu -– a world listed site, reports Calliste Weitenberg.
Kiernan: from security guard to larger-than-life mining character
Michael Kiernan, former boss of Consolidated Minerals, remains one of the Australian mining industry’s most colourful figures, having developed for himself a “black widow” reputation in the sector.
Queensland farmers rise up to take on the miners
Queensland’s Surat Basin has the third largest energy resource in the world but farm groups are warning that mining areas risk catastrophic environmental damage to food-producing areas, reports Amanda Gearing.
Resources boom about to catch fire
The Australian economy is lurking, waiting to re-emerge in coming months as the mining sector gains renewed confidence, with promising capex and construction figures announced yesterday.
Papuan shootings: we will probably never know the truth
Papua is a media black hole with foreign journalists rarely permitted to report from the province. The true story behind the latest shootings of 29-year-old Australian Drew Grant and security guard Markus Ratealo will probably never be revealed.
A mining boom for mining companies… not for anyone else
New research suggests the benefits of the mining boom were far smaller than believed.
The destruction of Australia’s most productive food bowl
Australia’s most productive agricultural region, the Liverpool Plains in North-West NSW, is under siege from BHP Billiton and coal and gas companies, writes Rosemary Nankivell.
Where does Garrett stand on the McArthur River Mine?
A surprise decision by the Federal Court in late December will cause real headaches for both the Commonwealth and Northern Territory Governments, writes Bob Gosford.
The Oz Minerals dream is turning into a nightmare
The dream of creating a diversified, cashed-up miner has quickly turned into a nightmare, with Oz Minerals shares closing at only $0.63 cents yesterday, writes Adam Schwab.
AFR offers faux-support for cartel busting
Never popular with infrastructure owners (who’d have thought?), the very principles of the competiton policy have come under sustained attack in recent years, writes Bernard Keane.
Origin Energy targeted for $12.91 billion takeover bid
Australia’s second biggest energy retailer, Origin Energy has received a $13 billion takeover offer from British gas company, BG Group, writes Glenn Dyer.
Time for Rio Tinto toffs to call Australia home
Surely it would be in the interests of Rio Tinto shareholders to shift the headquarters to Australia now that we have wall-to-wall Labor Governments, writes Stephen Mayne.
