Australian news, and some related international items

No Resource Rent Tax for Olympic Dam uranium mine

Done deal for Rann as Olympic Dam emerges unscathed ,  David Nason  : The Australian * July 03, 2010 THE compromise mining tax won’t wring a single extra cent from the country’s biggest proposed mining project in South Australia. BHP Billiton’s $20 billion-plus Olympic Dam expansion in South Australia is exempt from the new tax, or as South Australian Chamber of Mines and Energy chief executive Jason Kuchel put it yesterday, “out of the firing line”……
I’m delighted,” Mr Rann said. “I spoke with Julia Gillard on Wednesday and told her our views . . . in terms of Olympic Dam . . . the things that we have been advocating have been delivered.”…….
In Canberra, a confident Resources Minister Martin Ferguson said: “We’ll see the expansion of Olympic Dam, ……….
Mr Kuchel sounded a note of caution, saying BHP was “very much relying on profits generated from other projects” to fund the Olympic Dam expansion. “The overall increase of the new minerals resources rent tax does mean there will be less money to go around for all the projects that BHP Billiton is considering,” he said. Done deal for Rann as Olympic Dam emerges unscathed | The Australian

July 3, 2010 - Posted by | AUSTRALIA - NATIONAL, politics, uranium | , , , , ,

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