BGN Entrepreneur

Investors in the City have been warned to join a campaign to persuade the Australian Government to ditch a super tax on its mining industry, which new data reveas is as important to the FTSE 100 as the retail sector.
Institutional investors in London need to add their voices to the growing anger into the Australia’s proposed 40% tax on mining profits.
Analysts have forcasted that Rio’s global tax rate will increase from 30% to 43% and this will cast a significant impact on the profits. HSBC announced last week that Rio’s earnings could fall by as much as 19%. Other lage miners, such as BHP Billiton, Xstrata and Anglo American, would also be influenced.

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