Share

Miners treat Australians like 'mugs'

Sydney - Australia's Greens party Friday accused major mining firms of treating ordinary people like "mugs" by running a fraudulent campaign against a proposed new tax on their profits.

Bob Brown, head of the left-wing group and one of a handful of minority party senators whose votes will be key to passing the 40% "super tax" into law, said the big miners were exaggerating their claims.

"It's a fraudulent campaign by the big mining barons who simply want to keep the rake-off, rip-off profits that they're making out of the minerals resources boom worldwide out of the property of Australians," Brown said.

The centre-left Labor government's plan to impose a 40% levy on mining profits from July 2012 has drawn a furious backlash from major resources firms who claim it will endanger the nation's prosperity.

Global giant Rio Tinto has pitched in to a well-funded industry campaign against the tax, and Friday launched a series of advertisements claiming its investments in Australia totalled more than its profits from the country.

Rival BHP Billiton also started its own independent push with a full-page newspaper ad urging the government to "resource the future but don't tax the past", a reference to plans to impose the levy retrospectively.

Brown said Rio's ad, which claims it has invested A$38.4bn over the past decade compared with earnings of A$37.4bn, treated "Australians like mugs".

"If it's indicating it's running at a loss in the country, why the hell is it worried about a super profits tax? It doesn't add up. It isn't logical," said Brown.

Labour does not hold a majority in Australia's upper house and relies on support from the Greens and independent senators to pass any legislation, such as the mining reforms, which are opposed by the conservative opposition.

The Resources Super Profits Tax is likely to be major election issue threatening key marginal seats in the resources-rich west unless it is resolved before the poll, which is expected later this year.

 - AFP

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.07
+0.5%
Rand - Pound
23.60
+1.0%
Rand - Euro
20.32
+0.3%
Rand - Aus dollar
12.24
+0.5%
Rand - Yen
0.12
+0.4%
Platinum
943.20
-0.8%
Palladium
1,035.50
+0.6%
Gold
2,388.72
+0.4%
Silver
28.63
+1.4%
Brent-ruolie
87.11
-0.2%
Top 40
67,314
+0.2%
All Share
73,364
+0.1%
Resource 10
63,285
-0.0%
Industrial 25
98,701
+0.3%
Financial 15
15,499
+0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders