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The triple-listed South African coal producer announced on Friday it had received queries from shareholders on the potential effects of the Rudd government’s resource super-profits tax.
“The underlying intention of the RSPT is the levying of tax on profits arising from the exploitation of non-renewable resources located in Australia,” the company said.
“Coal of Africa has consulted its advisors and, as the company has no operational projects in Australia, it expects no increased taxation charges resulting from the implementation of the RSPT.”
With billions wiped off Aussie mining stocks last week, Goldman Sachs JBWere noted the fear overseas.
“Offshore investor feedback seems to indicate that many will avoid Australia for resource exposure until there is clarity on the tax,” Goldman said on Wednesday.
Coal of Africa shares were up 6c to $2.04 on Friday.
