Minister of Australian Department of Industry: Carbon and Mines Taxes May Be Terminated

Australia is the largest export origin of mines (mainly iron ore, coal, copper, andnatural gas, etc). The mining industry is the heart of Australian economy. In addition, it is one of the main export destinations and overseas mines investment of China.

The Minister of Australian Department of Industry which has been recently re-organized said on November 2, 2013 at China Mining that in order to strengthen the foreign investment in Australia, the Australian government is planning to terminate the carbon & mines taxes and will make the final decision before Christmas as a new session of the Congress begins. It is now negotiating with each state government.

Carbon tax is designed especially for the emission of carbon dioxide based on concerns on environmental protection. The goal is to slow the pace of global warming through cutting the emission of carbon dioxide. On the other hand, the mines tax is designed to impose taxes on the registered miners.