The mining capital expenditure data released by the Australian Bureau of Statistics on Thursday, which shows a 16% decrease in the June quarter, underlines the “folly” of the Western Australian Nationals’ party’s proposal for a A$7.2-billion tax on the country’s major iron-ore producers, the Minerals Council of Australia said on Thursday.
MCA CEO Brendan Pearson said the Brendan Grylls’ iron-ore tax proposal, announced after his appointment as leader of the state’s Nationals party last month, would make Western Australia the highest taxing iron-ore province in the world.
