I haven't looked into the details yet but if the name (Resource Super Profits Tax) is a guide then this looks to be a tax on mining companies that produce profits presumably beyond a certain very high level. So the likes of BHP and RIO would be hit and possibly Fortescue.
Not so sure that any up and coming producer are likely to fall into that category for quite a while, if at all. Clearly it would be counter productive to suppress the growth of any future miners, but rather wait until they are well established and making "super" profits.
The way I see the changes overall may well be a boost for the juniors by encouraging the growth of supporting infrastructure.
BRM Price at posting:
$3.64 Sentiment: Buy Disclosure: Held
