resource rent tax, page-8

The details are yet to be hammered out so nobody really has a clue - everything thus far is supposition.
One important thing that crossed my mind is that Ruddy Rudd has changed the name of the tax from a Resource RENT Tax to a Resource Super Profit Tax - the implication I draw from this is that it could hit any mining company in Australia regardless of where their mines were.

Of course this would be stupid but we are talking about a very naive (in terms of financial governance) government. If my implication were correct (and I sincerely hope it isn't) then companies with overseas mines like PNA would simply relocate their business to another country. And why would a company like BHP bother staying in Australia to have their Chilean mine profits hit with a 40% tax.

However the market seems to have sorted the chaff from the hay and PNA is benefiting at the moment. I realise that there are other issues being brought to bear but I thought LGL (Lihir Is. and African mines) would also benefit.

One thing for sure - I won't be voting ALP this year.