Media Releases


THE CARBON AND MINING TAXES

At a time of global economic uncertainty, the mining and carbon taxes erode the minerals industry’s international competitiveness. Australia should be seeking to maximise the benefits of the boom, not putting new hurdles in the way of growth in investment, exports and jobs. Australia’s carbon tax starts generating $77.3 million per week from today. New figures from the Centre for International Economics show that Europe’s emissions trading scheme - which covers 30 nations - has generated $23 million per week so far in 2012.

On the Volatility of Resource Rent Tax Revenue

The Australian Government has indicated that it expects revenue from the new Minerals Resource Rent Tax (MRRT) to be volatile. The Petroleum Resource Rent Tax (PRRT) is similar to the MRRT in many important respects; in particular, both taxes are targeted at similar bases (i.e. economic rents). A natural starting point for predicting the likely characteristics of aggregate MRRT revenue is to therefore examine revenue from the PRRT.

NATIVE TITLE ACT CHANGES

Reforms to the Native Title Act announced today will improve the operability of the Act without diminishing Indigenous rights. The proposed changes are broadly consistent with proposals to enhance the Act put forward by the MCA. Significantly, the changes announced today formalise industry-leading practice on good faith negotiations over native title. MCA member companies already negotiate in good faith, but we are not confident our approach is universally adopted across the industry.

THIESS - MCA WOMEN IN ENGINEERING SCHOLARSHIP

I am delighted to announce that Kira Evans is the 2012-13 winner of the Thiess - Minerals Council of Australia Women in Engineering Scholarship. Kira is studying a Bachelor of Petroleum Engineering and Mining Engineering Combined Degree at the University of Adelaide, an institution strongly supported by MCA member companies through our Minerals Tertiary Education Council.

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