Metalnewsnet 6 May ： Global miner Rio Tinto, has shelved plans to spend A$11 billion ($9.96 billion) expanding its massive iron ore operations in Australia's north-west because of uncertainty about a proposed tax, The Australian newspaper reported on Thursday. The newspaper said Rio Tinto Iron Operations chief executive Sam Walsh had revealed on Wednesday that the group's plan to boost iron ore production in Western Australia's Pilbara region to 330 million tonnes a year by 2015 from 230 million tonnes had been put on hold as the company digested details of the new tax. On Sunday, the government revealed plans to impose 40 percent taxes on mining companies generating 'super profits' flowing from a mining boom due to China's strong demand for raw materials. (from Reuters) |
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