Australia to propose tax incentives for critical minerals
The proposed law will set up a tax incentive worth 10% of relevant processing and refining costs for 31 critical minerals.
Australian TerraCom (ASX:TER), the junior that bought the Blair Athol thermal coal mine in a $1 deal from Rio Tinto, announced that the mine has reached full production.
The site, located in central Queensland, had been closed since 2012 when Rio shut down operations after almost 30 years of continued activity. However, following the buyout, TerraCom has ramped up operations to an annualised rate of 2 million tonnes per annum.
In addition to this positive initial results, the company announced the appointment of Wallace Macarthur King as non-executive chairman of its board. Macarthur will replace Cameron McRae, who will keep a seat as a non-Executive Director.
TerraCom says the reshuffle will help support its goal in becoming a large and strong coal mining company operating in Australia and Asia.
2 Comments
Wiesław Jura
Bravo ! the Blair Athol clever Boys.
klgmac
Expensive electricity generated by alternative sources is already costing some people their jobs and is forcing others into energy poverty. It’s truly a crime against humanity.