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HI raider In 3yrs time there probably won't be much of a nickel...

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moondoong

46,599 Posts.

15/05/24

16:34

Post #: 73840584
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Originally posted by raiderup ↑

The Albanese Government will give producers of designated critical minerals, which includes nickel and lithium, a 10 per cent tax credit per year for up to 10 years per project.
This means for every $100 dollars of eligible production costs the miner’s tax bill will be lowered by $10, or if it did not make enough to pay tax it can still claim a $10 refund.
The critical minerals move has an estimated cost of $17.6b, split between $7.1b from now until the 2034 financial year, and then another $10.6b until 2041.
But the credits will only kick in from July 2027, despite Australia’s nickel industry currently circling the drain.
Minerals Council of Australia chief executive officer Tania Constable welcomed the production tax credits but said they will have “no immediate impact”.
https://thenightly.com.au/politics/...inerals-and-green-hydrogen-players-c-14666701

Raider

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HI raider
In 3yrs time there probably won't be much of a nickel industry left in Australia.
Unfortunately the Chinese have flooded Indonesia with billions to develop mines and processing plants there, with cheap labour and very slack environmental, health and safety controls.
I can't see how Australia could compete long term.

Nickel isn't exactly rare either.
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