- Write by:
-
Tuesday, May 26, 2020 - 7:31:53 PM
-
558 Visit
-
Print
Mining News Pro - The Minerals Council of Australia is calling on the federal government to adopt a series of measures that, in the group’s view, would guarantee the recovery of the mining sector once the covid-19 pandemic comes to an end.
MCA proposes targeted reforms that include lower taxes, faster project approvals, modern skills and flexible workplaces.
“Our world-leading minerals companies are hampered by regulatory duplication and overlap, while projects take too long to be approved – denying regional communities jobs and investment,” the Council’s report reads. “Expediting environmental assessments and approvals, reforming greenfields agreements and expanding incentives for exploration will also help realise and refresh the potential pipeline of new and expanding mining projects.”
According to the MCA, Australia’s company tax rate of 30% is too high, not internationally competitive and could put at risk mining investment.
“A potential mining investment pipeline of up to $100 billion of coal, iron ore, base metal, critical minerals and gold projects as well as tens of billions of spending to sustain the Australian mining industry cannot be taken for granted,” the document states. “With other mining nations significantly hampered by the covid-19 pandemic while Australian minerals companies continued to operate, Australia’s competitors will waste no time in attempting to increase their share of the recovery.”
The Council’s paper highlights the fact that growing economies of highly populated nations such as India and Southeast Asia will recover and continue to grow with their expanding housing, infrastructure and manufacturing needs supporting higher demand for industrial metals such as steel, copper and aluminium. In their view, those are markets that the country’s mining sector could be targeting.
Short Link:
https://www.miningnews.ir/En/News/535374
Oxford Economics Australia has released data showing mine maintenance spending may be hitting its peak. But what does it ...
South African diversified miner Sibanye Stillwater is discussing with lenders to temporarily lift limits on borrowings, ...
Copper climbed above $10,000 a ton as predictions for tighter global supplies and rising consumption in electric ...
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains ...
Iron ore futures fell to their lowest in more than two weeks, pressured by an inventory accumulation at Chinese ports ...
Copper output in Chile, the world’s largest producer of the metal, edged down in March, data from copper commission ...
Anglo American’s key South African shareholders are open to a takeover offer from BHP, with some advocating for an ...
Panama’s president-elect has ruled out talks with Canadian miner First Quantum Minerals until it drops multiple ...
Japan’s top steelmaker, Nippon Steel, is sticking to its plan to close a deal by year-end to buy US Steel, which it ...
No comments have been posted yet ...