Miners tell Gillard, no more surprises
Resources company executives have called on Prime Minister Julia Gillard at a private roundtable in Perth to avoid using the budget to make any new policy announcements that would hamper the sector, according to the Australian Financial Review.
Participants at yesterday’s roundtable, hosted by the Chamber of Minerals and Energy of Western Australia, said there had been a clear call for “no more surprises”
Almost three years ago, then prime minister Kevin Rudd was handed a pair of boxing gloves when he participated in a similar event near the CME offices, soon after he announced the now defunct resource super profits tax.
Grange Resources chief executive Richard Mehan said on Tuesday that the issue of rising costs associated with doing business in Australia was among the most talked about issues.
“The issue of cost base is the issue of major concern to the industry,” he said.
Queensland energy assets better off privatised, says Macfarlane
Federal opposition energy and resources spokesman Ian Macfarlane has issued a stinging criticism of the Liberal National Party in Queensland for failing to push for the privatisation of energy assets to pay down the state’s debt, according to the Australian Financial Review.
As the Newman government considers the Costello commission of audit, which recommended the sale of $25 billion to $30 billion of assets to help reduce the state’s escalating debt, Macfarlane said Queensland’s finances were in a “precarious state”
Macfarlane, the Queensland MP who is expected to be energy minister if the coalition wins office in September, said the state’s energy companies – which includes generation companies CS Energy and Stanwell Corp, transmission company Powerlink and distribution companies Energex and Ergon Energy – were better off in private ownership.
MRRT not open for renegotiation, says Gray
New Resources Minister Gary Gray has ruled out any changes to federal Labor's controversial mining tax, according to The Australian.
The minerals resource rent tax has garnered just $126 million in its first six months of operation against a full-year forecast of $2 billion.
The Australian Greens are pressuring the government to close loopholes in the tax, especially the ability of coal and iron ore miners to offset state royalties against their MRRT liabilities.
