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CNBC reported Fortescue Metals Group (ASX:FMG) lodged a challenge against the High Court regarding Australia’s new tax on iron and coal miners.
CNBC reported Fortescue Metals Group (ASX:FMG) lodged a challenge against the High Court regarding Australia’s new tax on iron and coal miners.
As quoted in the market news:
Fortescue Metals is claiming that the tax, which is a nominal 30 percent levy on iron ore and coal profits over 75 million Australian dollars ($72.8 million), is unconstitutional.