I suggest anyone who has an interest in mining - and that may...

I suggest anyone who has an interest in mining - and that may not be everyone who posts here on the politics forum, has a look at the interview of Rio's CFO on Lateline business on the ABC.

The question was put to him of the assertion of the MD of Atlas mining, that the MRRT is disadvantageous to junior miners.

The question put by the interviewer is this: "But David Flanagan is right, isn't he, it does put your competitors one level down, it does create a hurdle for them...a company like Atlas does not have all the assets that you have to write off against its assessable income".

Rio's CFO replied: "Each company's situation is different, I think the important thing is that the government has consulted with the industry, and is continuing to consult the mining industry under the process that has been set forth under Don Argus and Martin Ferguson"

Those of us who know the mining sector well, know that this is a big crock of s... I have suspected all along that BHP & Rio saw the opportunity to destroy the junior I/O industry via taking advantage of the ignorance of Gillard, Swan and Fereguson.

Rio's CFO is simply singing from the ALP's spin book here...and why not? He knows the best hope for BHP & Rio to maintain is to put the sector on a tiered tax system.

Thanks very much ALP ingoranmuses - you have been played for total chumps, just like you yourselves are playing the electorate for chumps. The only hope for the junior sector is to remove the MRRT and create a level tax playing field. This will only be done by electing the Coaltion.

Anyone who invests in shares in the junior sector should be aware of this.