The Conversation (0)
Zinc Investing News reports the carbon tax in Australian may bankrupt the zinc and lead miners. Nyrstar, the countries largest zinc and lead miner, issued a response to the governments proposed taxation scheme. Chief Operating Officer Greg McMillan said modeling prepared for the company showed that the taxation would cost the company $70 million a year, assuming a …
Zinc Investing News reports the carbon tax in Australian may bankrupt the zinc and lead miners.
Nyrstar, the countries largest zinc and lead miner, issued a response to the governments proposed taxation scheme. Chief Operating Officer Greg McMillan said modeling prepared for the company showed that the taxation would cost the company $70 million a year, assuming a carbon price of $40 a tonne. “That would completely wipe out profits from our Australian operations,” McMillan added.
For complete story, click this link. Follow developments in resource mining and exploration for free. Sign on to The Resource Stock Watch.