Rio runs with risk

May 24, 2010 (The Age - ABIX via COMTEX) -- Opposition by the mining sector is growing to the Australian Government's proposed new 40% resources rent tax in response to the Henry taxation system review.

Tom Albanese, CEO of Rio Tinto, has gone so far as to allege that the new measure increases sovereign risk for the company's Australian projects above that faced in unstable Third World nations such as Guinea, Mongolia or Madagascar. Federal Treasurer Wayne Swan has rejected that statement as part of a fear campaign waged by the resources industry.



Publication Date: 25 May 2010



RIO TINTO LIMITED - ASX RIO

BHP BILLITON LIMITED - ASX BHP

AUSTRALIA. DEPT OF THE TREASURY

KPMG AUSTRALIA PTY LTD

NATIONAL BUREAU OF ECONOMIC RESEARCH

UNITED STATES. CENTRAL INTELLIGENCE AGENCY

INTERNATIONAL MONETARY FUND



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Posted 05:47 PM ET

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