Junior miner and affiliates set to re-commence ad campaigns against MRRT
The Association of Mining and Exploration Companies (AMEC) said on Monday that it is set to restart its advertising campaign against the federal government's proposed mineral resource rent tax.
AMEC also announced that it would schedule a press conference in Perth today in order to outline the group's advertising plans and objections to the MRRT as it added that representative by both Western Australia's and Queensland's Chamber of Commerce and Industry are expected to attend so they too could air their concerns on the new tax proposal.
The federal government has been previously beset by opposition on its original resource super profits tax on mining companies, which carried a 40 percent headline rate and pressures delivered by fierce advertising campaigns from the Minerals Council of Australia were widely believed as one of the major reasons that Prime Minister Julia Gillard decided to repackage the proposal.
Following negotiations with three giant resource firms, namely BHP Billiton, Rio Tinto and Xstrata, the Gillard government announced that the controversial RSPT would be replaced by the fine-tuned MRRT, which removed all commodities from its coverage, save for iron ore and coal.
Notwithstanding the changes made, the new tax elicited uproars from some smaller miners who expressed distaste over the government's decisions to leave them out from the discussions with the mining giants.
Recently though, billionaires Andrew Forrest and Clive Palmers, both long-time resource industry veterans, joined the growing ranks of those voicing their reservations on the MRRT, which is projected to collect $1.5 billion less from the calculated earnings of RSPT, in its first two years of operation.