new mining tax impact, page-21

Hi amhtet,I think you are quite correct about the confusion. Just a query after all the deductions mentioned it would drop the net percentage rate. I could be wrong but I thought I heard that the royalties currently payable to the states will also be reimbursed to the company. If that is correct then the actual amount payable will not be anywhere near 40%. Perhaps thats the reason it was reported by another poster that it was stated that BHP could be impacted by a possible 19% reduction in profit. I think we need to be careful as to the actual degree of impact on the stock. If there is too negative a reaction on the stock and it gets oversold I will likely be a buyer. However I would prefer that any impact not be over the top as I hold a number of mining stocks that could similarly be impacted. We will soon find out.

cheers