Rio Tinto Group, the world’s second-biggest mining company, said a proposed A$7.2-billion tax increase in Western Australia is “ill conceived” and would be detrimental to the growth of its iron-ore business in the state.
Brendon Grylls announced the tax proposal after being appointed the new leader of the state’s Nationals party on Tuesday. The plan to raise the production rental cost on Rio and rival BHP Billiton to A$5 a metric ton from 25 Australian cents would be a pillar of the Nationals campaign for the 2017 state election, according to a statement.
