Australia’s Iron Ore Mining Tax Kicks In

Mining Weekly reported new iron ore and coal mining and carbon taxes have taken effect in Australia.

As quoted in the market news:

 The much-contested mineral resources rent tax (MRRT) kicked in this weekend, amid protest from Australia’s peak industry body.

The Minerals Council of Australia (MCA) has labelled the MRRT a top-up tax on existing company tax and royalties, saying that while workable, it was not necessary to achieve the government’s justification for another new tax, namely to spread the benefits of the mining boom.

Click here to read the full Mining Weekly report.