just a thought..., page-10

Lanky , the super profit of 40% is based on mine projects which is on top of the corporate tax rate. Companies will still have to pay the state royalties, but they will be rebated this amount by the federal gov. As I understand it WA iron ore is charged at 7.5% of the royalty value.

One last point about "super profits", the implication is that a "normal" mining profit, with all the associated risk, is deemed as being equivalent to the long term (risk free) bond rate. It must be very "other worldly" in Canberra!