not the complete article but you get idea.i,ll be topping up...

not the complete article but you get idea.
i,ll be topping up whenever i can with eio


AUSTRALIA'S mining sector will increase its focus on offshore developments because of the list of new taxes on the industry as the new carbon tax threatens jobs, according to industry leaders.
The coal industry, already the target of the minerals resources rent tax, is the most affected by the carbon tax and warns that a $1.3 billion assistance package for the sector represented less than 10 per cent of the $18bn carbon tax bill the industry faced over the next nine years.

The 10 per cent that the assistance package will cover compares with 94.5 per cent the government offered other trade-exposed industries.

The carbon price, to be paid by about 500 of the biggest polluters in Australia, will start at $23 a tonne next July, rising by 2.5 per cent a year in each of the first three years before being set by the market.

The mining sector will also be the most affected by the off-road diesel fuel rebate being pared back by 6 cents a litre, which the industry says is a 16 per cent increase in the fuel tax.

2011
..End of sidebar. Return to start of sidebar.
The nation?s richest woman says the Gillard government?s carbon tax could send Asian customers to source raw resources from more risky areas of the globe.

Speaking on the sidelines of the Boao Forum in Perth, Gina Rinehart said the mining industry was already dealing with high costs.

"We have to earn our place in Australasia, we have to be cost competitive. Obviously, shoving in the carbon tax and the MRRT (minerals resource rent tax) doesn?t help our cost competitiveness, they hurt it," Mrs Rinehart said.

"If we don?t keep cost-competitive, they will go elsewhere, that?s the reality.

"They?re going to be looking at Mongolia and they?ll be looking at West Africa because they can?t keep supporting high prices."

Ms Rinehart said her Roy Hill iron ore project in Western Australia?s Pilbara region was targeting construction to start next year, for first production in 2014.

UBS analyst Glyn Lawcock said it was unlikely the Australian mining industry would be able to pass on the higher costs from the introduction of the carbon tax.