Australian Mining Cheers Plan to End Carbon Tax

Platts reported the Australian mining industry welcomed Saturday’s election of Prime Minister Tony Abbott and his coalition’s pledge to abolish the carbon tax on fugitive greenhouse gas emissions from coal mines and the Minerals Resource Rent Tax on coal and iron ore mining profits.

As quoted by Platts:

Minerals Council of Australia CEO Mitchell Hooke said in a statement Sunday that abolishing the twin taxes would be a “positive first step,” as Australia’s market competitors did not face the taxes.

“The carbon tax has been a dead weight on the economy that has failed to achieve its environmental objective while adding massive new costs on the minerals sector,” Hooke said.

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