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Australia PM says still working out mine tax detail

Canberra, 20 October 2010

Australia's government will keep working out the detail of a proposed tax on mining profits with big miners, Prime Minister Julia Gillard said on Wednesday.

"We've said all along we'll credit existing royalties and scheduled increases, and the policy transition group is going to advise government on the best way to provide certainty to the industry given that policy setting," Gillard told reporters in Canberra.

"We obviously won't be giving a green light to state and territory governments to increase their royalties in a way which means the federal government effectively foots the bill," she said.

Ends --


Reuters - for Commodities Now.

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