The Federal Government has reportedly contacted global miner Rio Tinto Ltd ASX:RIO) with regard to fresh negotiations on the mining tax.
Australia’s new Prime Minister, Julia Gillard is keen to get the proposed mining tax dealt with saying top priority would be to hold further consultation with the mining industry.
CEO Tom Albanese, told Reuters in an interview that he hoped the tax, which has cast uncertainty over investment in Australia’s mining industry, would be resolved soon.
Mr Albanese told Reuters that since Julia Gillard’s appointment as the new Prime Minister, the government has been in touch with the company.
Mining giants like Rio and BHP Billiton Ltd (ASX:BHP) have warned that the proposed mining profits tax would hurt the resource industry which saw Australia through the GFC.
Mining companies want the tax to come into effect in 2012 and apply only to new projects not existing ones.
However it is uncertain whether any changes to the tax will be made before the election expected around August/September.
Rio Tinto earned $5.43 billion in calendar 2009.
