Here's a snap shot of how tough they are doing it in the Coal industry. Current Coal price is $130 per tonne and the miners are happilt making their profits.
The super profits royalty tax doesn't even apply at these levels. It kicks in at $150 per tonne and is only a 5% increase from previous levels.
What the miners are moaning about is the 40% tax that kicks in over $500 per tonne price. Those poor miners who can make their profits at $130 per tonne but their world crumbles when it hits $500 per tonne. Ian MacFarlane should hang his head in shame.
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