According to the Australian Financial Review, Fortescue Metals Group's Ltd
(ASX:FMG) CEO Andrew Forrest will continue his battle against the mining resource rent tax by helping to fund a campaign targeted to marginal seats in the lead up to the Federal Election.
The paper reports Mr Forrest says the tax is highly discriminatory, unfair and complex, and will hamper his efforts to expand his own iron ore mines.
AFR says Mr Forrest has described the MRRT as a ‘sweetheart deal’ that was agreed upon to favour larger miners such as BHP Billiton (ASX:BHP), Rio Tinto (ASX:RIO) and Xstrata, and a new government with aspirations to win the election.
Mr Forrest has not confirmed how much money he will commit to the advertisements, expected to be run by the Western Australian and Queensland state chambers of commerce, together with the Association of Mining and Exploration Companies supporting junior and middle miners.
Fortescue reported a profit of $626.13 million for the year ending 30 June 2009.
