and another thing that isn't receiving the attention it deserves: this gov't tax is changing the rules half-way thru' the game - the tax will apply to all miners including those with projects that have been established for say 10 years. Therefore projects costed under the known rules of the game then existing may suddenly become uneconomic. This is why Australia is now regarded as a high sovereign risk investment country. ...............................
This really is not a concern AT ALL
I cannot imagine one company that did an NPV 10 -12 years ago ( even 6 years) that calculated current/ recent prices for their minerals. Any company that did an NPV 10 years ago and perhaps calulated it would take 10 years to get an ROE / breakeven would be WAY WAY in front. They would be doing high 5's in the boardroom.
Commodity prices in the last 6 years have provided a massive boom to their economics and NPV calculations including massive interest savings from increased cashflow.
Australia wants to share in their massive windfall and is told to get knotted and additionally complain it is a retrospective intrusion.
