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The Forum > Article Comments > No risk and so much to gain > Comments

No risk and so much to gain : Comments

By Monika Sarder, published 12/5/2010

The mining industries' new 'silent partner', the government, will distort investment and production decisions.

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Good article, Monika. Your points are well made. It's unfortunate that the new tax is being used by a small number of mining people as an excuse to cancel or defer mining projects that were never economically viable and hence would never have got off the ground (eg, Clive Palmer) and it's also unfortunate that some people are exaggerating the impact of the tax. Nonetheless, there's no doubt that the new tax is a significant impost on the profitability of many existing and new resource developments, with capital certain to be more difficult to raise and some exploration and development dollars likely to be redirected offshore.
Posted by Bernie Masters, Monday, 17 May 2010 10:25:58 AM
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